HG Infra Engineering gains on over 37% rise in Q1 bottomline

Shares of HG Infra Engineering gained over 1 percent to trade at Rs 961.90 around 10am on August 1 on the back of impressive earnings for the first quarter of FY24.

HG Infra Engineering Ltd on July 31 reported a 37.4 percent rise in net profit to Rs 1,504 crore for the quarter ended June 30, 2023, as against Rs 1,094 crore recorded a year ago.

Revenue from operations jumped 22.2 percent to Rs 13,512 crore during the quarter from Rs 11,059 crore last year, HG Infra Engineering said in an exchange filing. The company’s total expenses stood at Rs 10,705 crore as against Rs 9,069 crore in Q1FY22.

The earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 2,807 crore in Q1FY24 up 41.1 percent as compared to Rs 1,990 crore last year. The EBITDA margin inched up to 20.8 percent from 18 percent in this period.

The company has reported an EPS of Rs 23.08 for the period ended June 30, 2023 as against Rs 16.79.

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HG Infra Engineering Limited (HGIEL) is an Indian road infrastructure company engaged in the business of engineering, procurement and construction (EPC) services, maintenance of roads, bridges, flyovers and other infrastructure contract works.

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