Ashoka Buildcon gains 4% as Q2 net jumps six-fold

Mumbai: Shares of Ashoka Buildcon jumped more than 4 per cent in Thursday's session, cheered by robust September quarter results as the highways builder reported a six-fold jump in net profit.

At 9:22 am, shares of Ashoka Buildcon were up 4.23 per cent at Rs 67.75, while benchmark Sensex traded 0.17 per cent lower at 43,519.79.

The company reported a consolidated profit after tax at Rs 70.42 crore for the quarter against Rs 11.45 crore a year ago.

Its total income stood at Rs 1,218.02 crore during the quarter under review as against Rs 1,052.99 crore in the year-ago quarter. Total expenses during the quarter under review rose to Rs 1,109.83 crore from Rs 999.90 crore a year ago.

While the stock is up 9.3 per cent in the last one week, it is still down 34 per cent for the year to date.