IRB Infrastructure Developers rose 2.93% to Rs 75.55 at 14:51 IST on BSE after the company at the time of announcement of its Q3 December 2013 results said it has good order book visibility for the next three years.
The Q3 result was announced during trading hours today, 31 January 2014.
Meanwhile, the S&P BSE Sensex was down 31.25 points or 0.15% at 20,467.
On BSE, so far 7.02 lakh shares were traded in the counter as against average daily volume of 6.32 lakh shares in the past one quarter.
The stock hit a high of Rs 77.50 and a low of Rs 73.25 so far during the day. The stock had hit a 52-week high of Rs 136 on 20 May 2013. The stock had hit a record low of Rs 51.90 on 2 August 2013.
The stock had underperformed the market over the past one month till 30 January 2014, sliding 20% compared with the Sensex's 3.05% fall. The scrip had also underperformed the market in past one quarter, declining 5.11% as against Sensex's 2.55% fall.
The company has equity capital of Rs 332.36 crore. Face value per share is Rs 10.
IRB Infrastructure Developers' (IRB) consolidated net profit fell 24% to Rs 109 crore on 4% decline in total income to Rs 906 crore in Q3 December 2013 over Q3 December 2012. EBITDA (earnings before interest, taxation, depreciation and amortization) rose 5% to Rs 464 crore in Q3 December 2013 over Q3 December 2012.
IRB said its order book now stands at approximately Rs 7800 crore out of which Rs 5800 crore worth of order book is to be executed in the next 2 to 3 years. This order book gives IRB good visibility for the next three years, the company said in a statement.
IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.
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