Lanco Infratech, one of the leading integrated infrastructure developers, witnessed a sharp rise in share price on Tuesday after the company reported profit in Q2 after 3 years of loss.
The company reported a net profit of Rs 989.80 million compared with a loss of Rs 5,274.80 million in the same quarter last year.
Revenues for the quarter rose 12.53% to Rs 26,575.10 million, compared with Rs 23,617 million for the prior year period.
Operating margin for the quarter stood at 43.17 percent as compared to 23.79 percent for the previous year period. Operating Income for the quarter was Rs 11,471.60 million, compared with Rs 5618.7 million in the previous year period.
Earnings per share stood at Rs 0.41 compared with negative Rs 2.23 in the same quarter last year.
Shares of Lanco Infratech are trading at Rs 6.39, up Rs 1.06, or 19.89% at the Bombay Stock Exchange (BSE) on Tuesday at 10:02 a.m.
Total volume of shares traded on the bourses today was higher by 30.47% to 5,926,330 compared with 22-day average volume of 4,542,446.