Ahluwalia Contracts (India) shares gained as much as 13.12 per cent and hit their fresh 52-week high of Rs 336.20 on Tuesday after it informed bourses that the company has secured new order
Ahluwalia Contracts (India) shares gained as much as 13.12 per cent and hit their fresh 52-week high of Rs 336.20 on Tuesday after it informed bourses that the company has secured new order aggregating to Rs 244.13 crore for construction of hospital building, including electrical, plumbing and firefighting services for Chittaranjan National Cancer Institute at Kolkata. The total order inflow during the FY2016- 2017 stands at Rs 1,209.59 crore. At 12.10 pm, shares of the company were trading 7.67 per cent up at Rs 320. The scrip opened the day at Rs 302 and has touched a high and low of Rs 336.20 and Rs 302, respectively, in trade so far. Later, the scrip ended the day 6.65 per cent up at Rs 316.95.
For the quarter ended June 30, 2016, the company reported a net profit of Rs 21.54 crore, up 14.50 per cent, against Rs 18.81 crore in the corresponding quarter a year ago. Net sales of the company jumped by 15.84 per cent year-on-year to Rs 305.80 crore for the quarter under review against Rs 263.99 crore in the same quarter last year. Operating profit of the company climbed 19.79 per cent year-on-year to Rs 44.56 crore for the quarter ended June 30, 2016 against Rs 37.20 crore in the same quarter last year.
Promoters hold 62.43 per cent stake in the company, while public hold 37.57 per cent stake.
The company is is engaged in providing construction related services including design on turnkey basis and assuring timely completion of projects within budget and with excellent quality.