HG Infra Engineering soars 19% on robust March quarter results
Shares of HG Infra Engineering soared 19 per cent to Rs 346.40, also its 52-week high, on the BSE in intra-day trade on Friday, after the company reported a robust set of numbers for the quarter ended March 2021 (Q4FY21), with standalone profit after tax jumping 91 per cent year-on-year (YoY) to Rs 97.70 crore on the back of strong revenue. The construction & engineering company had logged a profit of Rs 51.3 crore in Q4FY20. The stock was trading close to its record high of Rs 356, touched on April 23, 2018.
The company’s revenue during the quarter under review increased 65 per cent to Rs 1,027.8 crore from Rs 622.9 crore in the corresponding quarter of previous year, clearly reflecting the sharp pickup in execution. Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 64 per cent YoY to Rs 166.5 crore from Rs 101.40 crore in the year-ago quarter.
