Ashoka Buildcon rallied 2.81% to Rs 80.05 after the company announced that it has received notification of award for a project in Bihar for Rs 366.67 crore from North Bihar Power Distribution Company (NBPDCL).
The scope of the projects entails development of distribution infrastructure at Muzaffarpur electric supply circle in Muzaffarpur, Sitamarhi and Sheohar districts of Bihar under revamped reforms-based and results-linked, Distribution Sector Scheme.The accepted contract value for the project is Rs 366.67 crore.
Ashoka Buildcon is presently engaged in the business of construction of infrastructure facilities on engineering, procurement and construction basis (EPC) and built, operate and transfer (BOT) basis and sale of ready mix concrete.
The company reported net profit of Rs 66.72 crore in Q3 FY23 as against net loss of Rs 693.55 crore posted in Q3 FY22. Revenue from operations jumped 41.3% year on year (YoY) to Rs 1,559.51 crore in the quarter ended 31 December 2022.
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