 "IL&FS Transportation extends rally post Q1 results")
IL&FS Transportation Networks (ITNL) has touched its 52-week high of Rs 107, up 13% on the BSE, extending its past four-day rally, after reporting a standalone net profit of Rs 17.87 crore for the quarter ended June 30, 2016 (Q1FY17). The surface transportation infrastructure company had posted a net loss of Rs 18.64 crore for the same quarter in the previous year.
The company’s total income increased by 16.41% to Rs 1,282 crore for the quarter under review from Rs 1,101 crore for the corresponding quarter of the previous year.
The company’s total income increased by 16.41% to Rs 1,282 crore for the quarter under review from Rs 1,101 crore for the corresponding quarter of the previous year.
Standalone EBITDA (earnings before interest, taxes, depreciation and amortization) margin expanded to 29% in Q1FY17 from 23% in Q1FY16. The company said it has a total order book of Rs 14,625 crore at the end of June quarter.
Meanwhile, the board of directors of the company approved the proposal of raising funds by way of public issue of non-convertible debentures to the extent of Rs 5,000 crore in one or more tranches.
At 11:03 am, the stock was up 9% at Rs 103, rallied 17% in past one-week post Q1 results, as compared to 1% rise in the S&P BSE Sensex. A combined 4.8 million shares changed hands on the counter on the BSE and NSE so far.