Infra stock engaged in the business of providing EPC services for infrastructure projects in India jumped 5 percent in the day’s trade following its Q3FY24 results with a 113 percent jump in net profits.
With a market capitalization of Rs. 5,883.72 Crores, the shares of ITD Cementation Limited were trading at Rs. 343, up 2.73 percent from its previous day’s close price of Rs. 333.85.
Its revenue from operations grew by 50 percent YoY from Rs. 1,327.01 Crores in Q3FY23 to Rs. 2,017.16 Crores in Q3FY24 and it grew 25 percent QoQ from Rs. 1,610.41 Crores in Q2FY24 to Rs. 2,017.16 Crores in Q3FY24.
Its Net Profit grew by 113 percent YoY from Rs. 36.88 Crores in Q3FY23 to Rs. 78.59 Crores in Q3FY24 and it grew 46.37 percent QoQ from Rs. 53.69 Crores in Q2FY24 to Rs. 78.59 Crores in Q3FY24.
ITD Cementation Limited is engaged in providing design, engineering, procurement, and construction (EPC) services for infrastructure projects in India. It takes up projects such as maritime structures, Urban Infrastructure, highways, Bridges, Flyovers, Hydro, Dams, Tunnels, Irrigation, and many more.
ITD Cementation has a global presence with operations in India, Bangladesh, Lao PDR, the Philippines, Vietnam, and Africa etc. As of December 2023, it has an order book worth Rs. 20,825 Crores.
The company’s revenue from operations grew 33.65 percent from Rs. 3,809.02 Crores in FY22 to Rs. 5,090.91 Crores in FY23, accompanied by increasing profits of Rs. 70.8 Crores to Rs. 120.23 Crores.
Written by: Bharath K.S
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