This highway developer's Q1 nos beat estimates; analysts bullish on the stk

Ashoka Buildcon's standalone net profit increased 6.7 per cent to Rs 69 crore in the recently concluded quarter, as against profit of Rs 65 crore clocked in Q1FY20 despite Covid-19-led lockdown

Shares of Ashoka Buildcon jumped 9.6 per cent to Rs 66.35 per share, in the intra-day trade, on the BSE on Thursday after the company managed to report rise in net profit for the June quarter of FY21, even as construction activity remained suspended for better part of the quarter due to on-going Covid-19 pandemic. 

The highway developer's standalone net profit rose 6.7 per cent to Rs 69 crore in the recently concluded quarter, as against profit of Rs 65 crore clocked in the year-ago period. It's revenue from operations, however, slipped 32 per cent YoY and 52 per cent