VA Tech Wabag Q1 standalone net up 63.9 per cent

: Water treatment company VA Tech WABAG Ltd has clocked standalone net profits at Rs 19.90 crore for the April-June 2019 quarter.

The net profits of the city-based company was up 63.9 per cent from Rs 12.14 crore recorded the same period last fiscal.

Standalone net profits for the year ending March 31, 2019, were at Rs 102.40 crore, a company statement said.

Total income for the quarter under review stood at Rs 324.75 crore as against Rs 340.26 crore registered the same period last year.

For the year ending March 31, 2019, the total income was at Rs 1,750.50 crore.

Commenting on the results, VA Tech WABAG Ltd managing director Rajiv Mittal said,"We are happy to note that our order intake momentum continues into the new financial year".

"With the recent order wins in Digha and Kankarbagh-the largest order under Namami Gange till date and the 10 year O&M in Agra and Ghaziabad, we already crossed 50 per cent of our annual order intake," he said.

With a strong order book, the focus would be on executing well and profitability, he said.

According to him, the order book of over Rs 11,700 crore secured by the company included framework contracts.

Shares of the company were trading at Rs 272 per share on the BSE.