VA Tech WABAG posts consolidated Q2 profit at Rs 23.89 Crore

Water treatment player VA Tech WABAG Ltd on Tuesday said it has clocked consolidated profit for the July-September quarter at Rs 23.89 crore.

The city-based firm had registered profit at Rs 28.49 crore during the corresponding quarter of previous year.

For the half year ending September 30, 2019, consolidated profits were at Rs 24.53 crore as against Rs 42.70 crore registered in the same period year ago.

Total income for the July-September quarter was at Rs 641.59 crore as against Rs 752.41 crore.

For the half-year ending September 30, 2019, total income stood at Rs 1,099.30 crore as against Rs 1,440.91 crore registered in the year ago period.

The company's managing director Rajiv Mittal said "we are happy to note that our new projects have started progressing and we are getting into the procurement phase of the key projects".

"The first half of this fiscal has started showing signs of improvement, especially on operational cashflow generation and we expect that this momentum will pick-up as we progress", he said.

The net cash generated from operations during the half year ending September 30, 2019 was at Rs 119 crore on consolidated basis while on standalone it was Rs 46 crore, a company statement said.

The company said for the half year ending September 30, 2019, the order book size was at Rs 11,500 crore including framework contracts, the statement said, adding it had also received an order intake of over Rs 3,000 crore during the period.