Shares of ITD Cementation India Ltd hit the 52-week high of Rs 193.90 in the morning trade on August 8 after the engineering and construction company posted a 74 percent jump in post-tax profit for the June quarter.
At 10am, shares of the company were trading 6.40 percent up at Rs 192.15 on the BSE.
The company's consolidated profit after tax stood at Rs 52.33 crore in Q1 FY24, compared to Rs 30.18 crore a year back, ITD Cementation said in a post-market hours regulatory filing on August 7. It also posted its highest ever quarterly revenue of Rs 1,833 crore, up 67 percent compared to Rs 1,098 crore in Q1 FY23. EBITDA (earnings before interest, taxes, depreciation, and amortization) jumped 74 percent on-year to Rs 174 crore.
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Total expenses spiked 65 percent to Rs 1,766.65 crore, as against Rs 1,068.20 crore in the year-ago quarter. Its consolidated orderbook stood at Rs 18,517 crore as of June 30, 2023. It secured orders worth Rs 247 crore in Q1 FY24.
The company added that it is conservatively financed with net debt-to-equity ratio of 0.49X.
ITD Cementation India Limited is an engineering and construction firm undertaking heavy civil, infrastructure and EPC business. It is operating in India for nine decades with an established presence in segments like maritime structures, Mass Rapid Transit Systems, airports, hydroelectric power, tunnels, dam, highways, among others.
Shares of the company are up 50 percent on YTD basis, while the 1-year return stands at 122 percent.
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