Vascon Engineers climbs 11 per cent as profit up 2 times
Vascon Engineers Ltd. reported its results for the quarter ended March 31, 2018. The company’s standalone revenue for the quarter came in at Rs. 105.86 crore, registering 64.1 per cent yoy increase.
The operating loss for the quarter narrowed to Rs. 2.74 crore vs Rs. 9.92 crore in the corresponding quarter last year.
The PAT for the quarter came in at Rs. 5.94 crore, yoy increase of 132 per cent. This was due to sharp decline in interest expenses by 46 per cent yoy.
Looking at the full year numbers, we see that revenue jumped by 40 per cent to reach Rs. 335.35 crore. The company reported net profit of Rs. 11.39 crore, up 86 per cent yoy.
Vascon Engineers Limited is an engineering, procurement and construction (EPC) company. The company's principal activities include real estate development, hospitality, and manufacturing and building management system (BMS).
On Monday, the stock opened at Rs. 32.55 per share and jumped by almost 11 per cent and made intraday high of Rs. 36.25, cheering the news.