Gayatri Projects reported a net profit of Rs 45,11 crore for the quarter ended 30 June 2017, up more than 175%, compared to net profit of Rs 16.35 crore in the corresponding quarter of financial year 2016-17.
Total income in the June 2017 quarter was significanly higher at Rs 659.78 crore, compared to income of Rs 439.87 crore in the year-ago quarter. Tax credit received (Rs 5.5 crore) in the quarter contributed to the healthy surge in the numbers.
In the quarter ended March 2017, Gayatri Projects recorded total income of Rs 815.63 crore. In the fourth quarter, the company posted a net profit of Rs 32.24 crore
EBITDA for the April - June 2017-18 quarter increased 59.6% (y-o-y) to Rs 97 crore. EBITDA margin expanded 82 basis points to 14.9% in the quarter, thanks to favourable changes in inventories.
Gayatri Projects is the flagship company of well diversified Gayatri Group that has interests in infrastructure, power, hospitality, real estate and industry.
The company has a strong presence in the EPC segment, and is engaged in projects such as construction of road, irrigation and industrial space. In the last fifty years, Gayatri Projects has executed projects comprising over 5000 kms of roads, 1200 kms of irrigation canals and several industrial projects. Its order book is quite healthy at present.
Gayatri Projects shares rallied to 175 on NSE and currently up 6.2% at Rs 171. On BSE, the stock is up nearly 6% at Rs 170, after touching a high of Rs 172. The stock had touched a high of Rs 182.25 on 10 July 2017.
The Gayatri Projects counter on BSE has clocked a volume of over 16,000 shares so far in the session, nearly four time its average daily volume of around 4200 shares. On the National Stock Exchange, the counter has recorded a volume of about 92,600 shares so far in today's session.
