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Antony Waste Handling shares rise on record fuel sales, order win from municipal corporation

Company reported record sales of refuse derived fuel (RDF) at 15,337 tonnes in the third quarter ended December 2022.

January 12, 2023 / 09:51 AM IST
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Shares of Antony Waste Handling rose in early trade on January 12 after the waste collection company reported record sales of refuse derived fuel (RDF) and bagged a seven-year mechanical power sweeping contract from Pimpri Chinchwad Municipal Corporation (PCMC).

The contract will include supply of four power sweeping machines by the company and street sweeping over 161 km of road on a daily basis, the company said in its press release.

At 9:47 am, Antony Waste Handling Cell Ltd. was quoting at Rs 304.30 on the BSE. Currently, it is trading 16.7 percent below its 52-week high and 30.54 percent above its 52-week low.

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The company reported record sales of RDF at 15,337 tonnes in the third quarter (Q3FY23) ended December 2022. The total tonnage handled stood at approximately 1.05 million tonnes, up 4 percent on a yearly basis, with seasonal weakness at its collection & transportation (C&T) operations, offset by continued growth at its processing contracts.

In its C&T business for Q3 FY23, the company managed approximately 0.40 million tonnes, almost flat on a yearly basis, while waste processing handled about 0.64 million tonnes, an increase of 7 percent year-on-year.

For the nine months period ended December 31, 2022, total tonnage handled (across C&T and waste processing) stood at approximately 3.15 million tons, an increase of 9 percent YoY.

The share touched a 52-week high of Rs 367.95 and a 52-week low of Rs 234.80 on 6 September, 2022 and 26 May, 2022, respectively.

Moneycontrol News
first published: Jan 12, 2023 09:50 am