Capacite Infra rebounds 2% after initial shock from tepid Q2 results

Its revenue from operations also slipped 2 percent to Rs 422 crore.

Shares of Capacite Infraprojects Limited shrugged off the initial shock of a declining bottomline for the September quarter that drove the stock down 6 percent on November 15 with 3 percent gains.

At 10:55am, this stock was trading at Rs 241, up 2 percent from the previous close on the NSE. In the last six months, the scrip has given a return of almost 50 percent.

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In the second quarter, the company's net profit stood at Rs 20 crore, down over 9 percent from Rs 22 crore a year back. Its revenue from operations also slipped 2 percent to Rs 422 crore from Rs 431 crore last year.

"The revenue and the resultant profitability were slightly lower due to delay in tying up the non-fund-based banking limits," the company said in an exchange filing. "Our team is working aggressively to tie up of balance non-fund-based limit, which will help us reduce the overall working capital cycle, and improve liquidity and execution across projects."

Capacite offers project design, construction and management services to private real estate and government bodies in the country. Its areas of expertise include high-rise buildings, townships, mass housing in the residential space, office complexes, and IT parks.