VA Tech Wabag has soared 6% to Rs 624, extending its previous day’s previous day’s 6% rally, after reporting a more-than-double consolidated net profit at Rs 21.71 crore for the third quarter ended December 31, 2013 (Q3FY14), on back of strong revenue growth. The company had profit of Rs 10 crore in the same quarter last fiscal.
The consolidated revenue during the quarter grew by 66% at Rs 589 crore against Rs 354 crore in the corresponding quarter of previous year. Operating profit too, nearly double to Rs 44 crore from Rs 23 crore, the company specialized in water and water management said in a statement.
EBITDA or operating profit margin improved 100bps to 7.54% from 6.49%. The company’s order intake surpassed Rs 3,000 crore beating the FY14 full year order intake guidance, it added.
The company has received orders worth of Rs 1,014 crore in Q3FY14, as compared to Rs 598 crore in the corresponding quarter of previous year.
The stock opened at Rs 594 and touched a 52-week high of Rs 639 on the NSE. A combined 116,927 shares changed hands on the counter so far on the NSE and BSE.
The consolidated revenue during the quarter grew by 66% at Rs 589 crore against Rs 354 crore in the corresponding quarter of previous year. Operating profit too, nearly double to Rs 44 crore from Rs 23 crore, the company specialized in water and water management said in a statement.
EBITDA or operating profit margin improved 100bps to 7.54% from 6.49%. The company’s order intake surpassed Rs 3,000 crore beating the FY14 full year order intake guidance, it added.
The company has received orders worth of Rs 1,014 crore in Q3FY14, as compared to Rs 598 crore in the corresponding quarter of previous year.
The stock opened at Rs 594 and touched a 52-week high of Rs 639 on the NSE. A combined 116,927 shares changed hands on the counter so far on the NSE and BSE.
