KNR Constructions share price gave a robust movement of more than 9 per cent intraday and went on to make a new lifetime high of Rs 725.00 on the back of strong Q1 results. A spurt in Volume by more than 7.64 times have been noticed in today's trading session.
KNR Constructions announced that it has strong engineering, procurement and construction (EPC) order book position amounting to Rs 4,258 crores as on 30th June, 2016 (First Quarter of FY17) comprising of Rs 3,528 crores in roads sector along with Rs 730 crores in irrigation business.
On 8th August 2016, KNR Constructions declared that it bagged orders worth Rs 1334.70 crores towards 4 laning of Hubli-Hospet section of NH-63 in the state of Karnataka. Since then, the stock risen 21 per cent gradually from Rs 600.
In the meantime, the company has also reported a healthy 87 per cent year on year (YoY) jump in standalone net profit at Rs 30 crores for Q1 of FY17, on the back of strong revenue growth. It had profit of Rs 16 crores in the same quarter of the previous year.
Total revenue of the Company grew 77 per cent on a yearly to Rs 303 crores from Rs 171 crores in the same quarter of the previous year. KNR Constructions reported that the growth in turnover during the current quarter of financial year due to execution of the orders received in last year is now contributing to the top line.
The EBITDA (earnings before interest, depreciation and taxes) margin of the Company remained unchanged at 14.4 per cent.KNR Constructions share price is currently trading at Rs 685.10, up by 6.90 per cent. The share opened at Rs 645.00 from a previous closing of Rs 640.85. The intraday low of the Company was Rs 644.00.
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