IRB Infrastructures to concede manifested profits during Q4
With the announced results of IRB Infrastructure Developers Ltd., the company geared up for the profit of around Rs.178 crore with the remarkable hike up of 28.8% y-o-y and 5% q-o-q. Since the current trading shows up at Rs. 218.85, a drop of 0.35 points or 0.16% has been observed from the previous closing of Rs. 2018.50 on the BSE.
The opening scrip of Rs. 220.45 has reached the high of Rs. 223.70 and low of Rs. 216.55 where almost 1,00,000 shares have made movement on the counter. On BSE, 52 week high or low for the stock face value of Rs. 10 has touched Rs.272.20 and Rs.197.20 on October 20, 2015 and August 25, 2015 respectively. Accordingly, scrip of last one week has presented noticeable improvement where high and low stood as Rs.226.95 and Rs. 214.90 subsequently while the current market cap of the company is Rs. 7,691.48 crore.
An official spokesman for IRB reviews,” The company is performing well as per expected standards, as the net profit may go up to Rs. 1,347 crore for Q4 FY16 at a significant rate of 36% y-o-y and 1% q-o-q. Whilst operating profit margin is awaited to be at 52.3%, in and all with a q-o-q surge of 73 bps and fall of 531 bps y-o-y.”
According to sources, the income of the company has gone up by 32.62% settled at Rs 5254.14 crore for the current observed year in contrast with previous year i.e. March 31, 2015 which managed Rs 3961.88 crore.
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