Ashoka Buildcon reports Jan-Mar quarter Net at Rs 38 crore

Ashoka Buildcon today reported over two-fold increase in consolidated net profit at Rs 37.80 crore for the quarter ended March 31, 2015.
The company's net profit in the year ago period was Rs 13.56 crore, Ashoka Buildcon said in a filing to the BSE.
The company's total income from operations increased to Rs 803.03 crore over Rs 608.25 crore in the year-ago period, it said, adding that the company has raised Rs 500 crore through QIP in April 2015.
"The company has issued 2.84 crore equity shares of Rs 5 each at Rs 175.80 per share," it said, adding that the objective of the equity raise is to fund growth in the business.

With regard to current order book, the company said that its total EPC order backlog is at Rs 3,105 crore -- Rs 1,362 crore in highway segment and Rs 1,743 crore in Power T&D segment.