VA Tech Wabag surges on robust Q4 earnings

VA Tech Wabag has surged 8% to Rs 439 after reporting 31% year-on-year (y-o-y) jump in consolidated net profit at Rs 60.36 crore for the quarter ended March 2012. The consolidated revenue grew 32% at Rs 674 crore on y-o-y basis.

“The company has fresh order intake of Rs 1,862 crore in FY12 and order backlog of Rs 3,731 crore,” VA Tech Wabag, a leading India MNC in water and waste water management firm said in a filing.

The board has recommended a dividend of Rs 6 per share (300%) on face value of Rs 2 per share.

The stock opened at Rs 416 and touched high of Rs 444 on the National Stock Exchange. A combined 11,205 shares have changed hands on the counter so far on both the exchanges.