Ahluwalia Contracts zooms 17% to record high after 62% surge in Q4 net profit

Ahluwalia Contracts reported a 62 percent increase in net profit to Rs 72.2 crore during March quarter while sales grew 18 percent YoY amounting to Rs 863 crore.

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Shares of Ahluwalia Contracts zoomed 17 percent on May 29 to a record high of Rs 617.65 after the company reported strong earnings during the quarter ended in March.

The company reported a 62 percent increase in net profit to Rs 72.2 crore compared to Rs 44.5 crore on-year. It also achieved an 18 percent growth in revenue, amounting to Rs 863 crore as against Rs 731 crore a year back. The company’s EBITDA grew 73 percent to Rs 110.2 crore from Rs 63.8 crore and margin improved significantly to 12.7 percent from 8.7 percent in the last one year.

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At 1:35pm, the company’s stock was quoting at Rs 593.90, up 12.92 percent. The stock was trading with volumes of 43,398 shares so far today, as compared with its five-day average of 2,838 shares, up 1429 percent.

Earlier this month, the company announced bagging a Rs 744.68-crore order from DLF Home Developers for the construction of civil structure and waterproofing works, including rough finishing works, for North Parcel of The Arbour Project located at Sec-63, Gurugram.

The contract should be executed in 30 months, it said.

The company had said in its last conference call with analysts that its net order book was Rs 8,113.14 crore which was to be executed in the following 24 to 30 months.