Ramky Infrastructure Ltd gained more than 2% on Wednesday, March 20, after the company announced it has received two orders worth nearly ₹217 crore from the Greater Chennai Corporation for the reclamation of the Kodungaiyur dumping ground through biomining.
One contract involves an amount of ₹39.88 crore and the second one is worth ₹176.77 crore, the company said in a stock exchange filing. Both orders are regarding the reclamation of the dumping ground through biomining, the Hyderabad-based company informed the stock exchanges. The contract will be executed in 24 months.
In December 2023, the company announced that it had repaid a debt of ₹755 crore, and obtained an extension of the due date for repayment of the remaining ₹516.02 crore.
The infrastructure company's material subsidiary Srinagar Banihal Expressway (SBEL) reached a one-time debt settlement with lenders for ₹1,245.49 crore.
As of September 30, 2023, the company had paid ₹425 crore, and on December 30, 2023, an additional ₹330 crore was paid. The lenders agreed to extend the due date for the remaining balance of ₹516.02 crore until January 30, 2024, without considering it a default.
Ramky Infrastructure's net profit surged by 436.47% to ₹36.48 crore in the quarter ended December 2023, compared to ₹6.80 crore in the same period of the previous year.
Sales also increased by 5.70% to ₹440.72 crore in the three months ended December 2023, up from ₹416.97 crore in the corresponding quarter a year ago.
Shares of Ramky Infrastructure were trading 1.31% higher at ₹458.55 apiece on BSE around 11.20 am.
