Noida Toll Bridge spurts on strong Q4 outcome

Noida Toll Bridge Company gained 4.96% to Rs 28.55 at 09:53 IST after net profit surged 43.2% to Rs 16.14 crore on 7.5% growth in net sales to Rs 30.46 crore in Q4 March 2014 over Q4 March 2013.

The company announced the result after market hours on Monday, 28 April 2014.

Meanwhile, the S&P BSE Sensex was down 82.18 points or 0.36% at 22,549.43

On BSE, so far 1.71 lakh shares were traded in the counter as against average daily volume of 1.04 lakh shares in the past one quarter.

The stock hit a high of Rs 29 and a low of Rs 28.10 so far during the day. The stock had hit a 52-week low of Rs 18.65 on 16 September 2013. The stock had hit a 52-week high of Rs 30.05 on 23 April 2014.

The stock had outperformed the market over the past one month till 28 April 2014, surging 13.33% compared with the Sensex's 1.31% rise. The scrip had also outperformed the market in past one quarter, jumping 30.46% as against Sensex's 9.42% rise.

The small-cap toll booth operator has equity capital of Rs 186.20 crore. Face value per share is Rs 10.

On a consolidated basis, Noida Toll Bridge Company's net profit rose 28.7% to Rs 53.91 crore on 11.2% growth in net sales to Rs 119.71 crore in the year ended 31 March 2014 over the year ended 31 March 2013.

Meanwhile, Noida Toll Bridge Company's Board of Directors at its meeting held on Monday, 28 April 2014 recommended a final dividend of Rs 2.5 per share (inclusive of interim dividend of Rs 1.50 per share paid in the month of March 2014), to the equity shareholders of the company, for the financial year ended 31 March 2014.

Noida Toll Bridge Company's principal business is operating the bridge and generates revenue mainly through the levy of toll on bridge-users.

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