Q3FY19: Ashiana Housing PAT rises 67 per cent QoQ

Ashiana Housing's consolidated net profit came in at Rs. 3.44 crore for the quarter ended December 2018 as against Rs. 2.06 crore QoQ. Following the results announcement on Monday, the stock was very volatile on Tuesday and in the afternoon was up nearly 3 per cent.

The company’s revenues came in at Rs. 70.88 crore for the quarter ended December 2018, down 0.71 per cent as against Rs. 71.39 crore QoQ. The EBITDA Margin came in at 15.41 per cent as against 11.61 per cent in Q2FY19

Area constructed for the quarter came in at 1.62 lakh sq.ft, down 18 per cent as against 1.97 lakh sq.ft in Q2FY19. The company's revenue recognised from completed projects came in Rs. 48.65 crore in Q3FY19 as against Rs. 55.34 crore in Q2FY19. Other income for the company stood at Rs. 16.91 crore for the quarter ended December 2018 as against Rs. 15.44 crore in the same quarter last year. Other income included income from maintenance, hospitality and income from investments.

The area booked by the company for Q3FY19 was dominated by Jaipur (42 per cent) and Bhiwandi (37 per cent) followed by Chennai ( 9 per cent), Jodhpur ( 6 per cent) and Gurgaon (4 per cent).

On Tuesday, at 14: 50 the stock of Ashiana Housing was trading at Rs. 109.25 per share, up by 2.97 per cent and made an intraday high/low of Rs.109.35/105.2 on the BSE.