 "Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters")
VA Tech Wabag was up 5% to Rs 490 on BSE in an otherwise weak market after the company reported a strong 70% year on year (YoY) jump in consolidated net profit at Rs 24 crore for the quarter ended September 30, 2016 (Q2FY17), on back of healthy operational income. The company had posted a profit of Rs 14 crore in the same quarter year ago.
Total income from operations grew 31% at Rs 777 crore on YoY basis.
“Good progress in execution in IIU projects like Petronas, Malaysia and AMAS, Bahrain led to increase in sales by more than 20% in Q2,” VA Tech Wabag said in a release.
EBITDA ((earnings before interest, taxes, depreciation, and amortization) margin stood at 7.5% in Q2F17 against 8% in Q2FY16.
The company said it has order book of over Rs 7,900 crore including framework contracts of about Rs 870 crore.
The order intake of more than Rs 1,500 crore, it added.
The stock has recovered 9% from its early morning low of Rs 450 on BSE. A combined 57,160 shares changed hands on the counter on BSE and NSE till 09:56 AM. The S&P BSE Sensex was down 2.3% at 26,968.
Thus far in 2016, the stock had underperformed the market by 32% as compared to 6% rise in the benchmark index till yesterday.
Total income from operations grew 31% at Rs 777 crore on YoY basis.
“Good progress in execution in IIU projects like Petronas, Malaysia and AMAS, Bahrain led to increase in sales by more than 20% in Q2,” VA Tech Wabag said in a release.
EBITDA ((earnings before interest, taxes, depreciation, and amortization) margin stood at 7.5% in Q2F17 against 8% in Q2FY16.
The company said it has order book of over Rs 7,900 crore including framework contracts of about Rs 870 crore.
The order intake of more than Rs 1,500 crore, it added.
The stock has recovered 9% from its early morning low of Rs 450 on BSE. A combined 57,160 shares changed hands on the counter on BSE and NSE till 09:56 AM. The S&P BSE Sensex was down 2.3% at 26,968.
Thus far in 2016, the stock had underperformed the market by 32% as compared to 6% rise in the benchmark index till yesterday.
