May 15, 2012, 04.45 PM | Source: Moneycontrol.com
Gammon India has reported a better than expected growth of 5.56% year-on-year in its profit after tax of Rs 57 crore for the fourth quarter of FY12.
Net sales too came in higher than expectations at Rs 1,860 crore for the January-March quarter of 2012, a rise of 10% as compared to Rs 1,690 crore in a year ago period.
Research firm Motilal Oswal had expected net profit at around Rs 5.3 crore and net sales at Rs 1,428.1 crore.
The company earned a forex gain of Rs 30 crore as against Rs 1 crore during the same period.
Gammon India touched a 52-week low of Rs 38.25 today, before closing up 16.28% at Rs 45.70 on the BSE.