Gammon India shares zoom 20% on turning profitable in Jan-Mar qtr

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Updated: June 20, 2016 5:38 PM

Gammon India shares locked in upper circuit of 20 per cent on Monday after the company on Saturday reported net profit of Rs 53.38 crore for the quarter ended March 31, 2016 against net loss of Rs 73.53 crore in the corresponding quarter a year ago.

Gammon India shares Gammon India shares locked in upper circuit of 20 per cent on Monday after the company on Saturday reported net profit of Rs 53.38 crore for the quarter ended March 31, 2016 against net loss of Rs 73.53 crore in the corresponding quarter a year ago. (Photo: Reuters)

Gammon India shares locked in upper circuit of 20 per cent on Monday after the company on Saturday reported net profit of Rs 53.38 crore for the quarter ended March 31, 2016 against net loss of Rs 73.53 crore in the corresponding quarter a year ago.

Shares of Gammon India closed 19.98 per cent up at Rs 14.89.

On BSE, 7.81 lakh shares exchanged hands on BSE against its two-week average of 1.16 lakh shares.

Net sales of the company jumped 9.43 per cent year-on-year to Rs 1115.08 crore for the quarter ended March 31, 2016.

Operating profit of the company soared 89.52 per cent to Rs 298.85 from Rs 157.69 during the same quarters.

Gammon India is a civil engineering construction company in India.

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