Ashoka Buildcon Q3 net profit drops 21%, revenue climbs 36%
The EBITDA increased 21.9% to ₹596.8 crore in the third quarter of this fiscal over ₹489.6 crore in the year-ago period. Shares of Ashoka Buildcon Ltd ended at ₹193, up by ₹3.65, or 1.93%, on the BSE.
Infrastructure company Ashoka Buildcon Ltd on Wednesday (February 7) reported a 20.7% year-on-year (YoY) decline in net profit at ₹109.8 crore for the third quarter that ended December 31, 2023.
In the corresponding quarter last year, Ashoka Buildcon posted a net profit of ₹138.4 crore, the company said in a regulatory filing. The company's revenue from operations increased 35.9% to ₹2,657.1 crore against ₹1,955.8 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA increased 21.9% to ₹596.8 crore in the third quarter of this fiscal over ₹489.6 crore in the year-ago period.
The EBITDA margin stood at 22.5% in the reporting quarter versus 25%year on year (YoY). EBITDA is earnings before interest, tax, depreciation, and amortisation.
Ashok Katariya has been re-appointed as the whole-time director, assuming the role of chairman for a two-year term beginning April 1, 2024, and concluding on March 31, 2026.
In addition, the board has welcomed Mario Nazareth and Nikhilesh Panchal as additional directors, both serving as non-executive and independent directors effective from February 7, 2024, the company added.
The results came after the close of the market hours. Shares of Ashoka Buildcon Ltd ended at ₹193, up by ₹3.65, or 1.93%, on the BSE.
(Edited by : Shoma Bhattacharjee)
First Published: Feb 7, 2024 7:46 PM IST
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