Sadbhav Engineering gains on robust Q1 net profit

Q1 net profit was up 46% to Rs 39.5 crore compared to same quarter last fiscal

Shares of Sadbhav Engineering were up over 3% at Rs 345 after the company announced 46% growth in net profit at Rs 39.5 crore for the quarter ended June 30, 2015 compared with Rs 27 crore for the same quarter last fiscal.

Total income from operations during the quarter under review increased nearly 21% to Rs 829 crore against Rs 626 crore for the quarter ended June 30, 2014.

Meanwhile, the company also announced that it has been declared the successful bidders with respect to bids invited by National Highways Authority of India for two expressway projects in the states of Haryana and Uttar Pradesh on EPC mode for an aggregate value of Rs 1,556.96 crore.

The stock opened at Rs 334 and touched a high of Rs 350. At 2:30PM, over 770,000 shares were traded on both the stock exchanges.