Indian Hume Pipe soared 14.94% To Rs 315 after the company's consolidated net profit surged to Rs 43.66 crore in Q4 FY24 as compared with Rs 16.01 crore posted in Q4 FY23.
Revenue from operations fell 11% to Rs 404.28 crore in Q4 FY24 as compared with Rs 454.20 crore in Q4 FY23.Profit before tax stood at Rs 58.06, up 191.91% YoY.
EBITDA jumped 77.74% to Rs 77.07 duirng the quarter as compared with Rs 43.36 crore posted in corresponding quarter last year.
The estimated balance value of the work as at 12th May, 2024 is Rs 3698.17 crore as against 23112.03 Crores as at 6th May, 2023.
The project situated in Hadapsar, Pune consists of 12 residential towers with saleable area of 14.77 lakh sq, ft, (approximately). Presently 3 towers of Phase I and 2 towers of Phase II have been launched. These towers consists 507 flats with RERA carpet area of 4.37 lakh sq. ft. (approx.).
As on 12th May, 2024, 334 flats having sale value of Rs 246.95 crore have been booked.
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The revenue share of the company is Rs 93.84 crore (38%) and as per schedule of payment, the company has received advance of Rs 29.61 crore.
Revenue from construction business declined 50.68% to Rs 361.51 crore in Q4 FY24 from 455.74 crore in same quarter last year.
Meanwhile, the companys board has declared a dividend of Rs 1.50 per equity share.
Indian Hume Pipe Company is engaged in the business of manufacturing, laying and jointing of pipelines. The company has also been undertaking infrastructure development programmes by way of execution on turnkey basis the combined water supply projects. The company also manufactures and supplies concrete railway sleepers to Indian Railways.
The counter hit an all time high at Rs 328.85 in intraday today.
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