Moneycontrol Bureau
Shares of Gammon Infra were locked at 10 percent upper circuit (Rs 19.69 per share) intraday on Wednesday. The company posted net profit of Rs 20.9 crore in the quarter ended September 30, from a loss of Rs 23.4 crore in the year-ago period.
During the period, Q2 net sales were at Rs 173.5 crore. It had a deferred tax of Rs 22.9 crore.
The company is now eyeing a topline of Rs 250 crore in the quarters to come.
“On nine month result because we closed our annual accounts in nine months, we have a top line of Rs 520 crore and a total loss of Rs 40 crore. That is against one exceptional item of exiting two projects where loss was Rs 39 crore in that. So we have improved the performance, the top line has gone up and the profit has also come back to black,” KK Mohanty, MD said in an interview.
He also added the pretax in next quarter onwards will be into the black because the exceptional item is over now and two of the projects have started implementation. “We have also started collecting toll from Vijayawada and three more projects are likely to be completed in next couple of months. So we will have much better results for the future quarters and especially for the next annual,” he elaborated.
At 12:13 hrs Gammon Infrastructure Projects was quoting at Rs 19.69, up Rs 1.79, or 10.00 percent on the BSE.
(Posted by Nasrin Sultana)
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