Antony Waste Handling gains after strong Q1 biz update

Antony Waste Handling Cell rose 1.96% to Rs 291.25 after the company said it reported record-high core operating revenues in Q1FY23.

In Q1FY23, Antony Waste Handling Cell handled 1.05 million tons, an increase of 17% YoY. In its collection & transportation (C&T) business, the company managed approximately 0.40 million tons, an increase of 15.8% YoY while total tonnage processed at waste processing stood at 0.65 million tons, an increase of 17.8% YoY. The sharp increase in the latter is a reflection of improving operations at its biomining project in GNIDA (Greater Noida Industrial Development Authority).

Total operating revenue (tipping revenue from C&T, mechanical power sweeping and waste processing) for Q1FY23 improved by approximately 26% YoY (including various escalations and revenues from fixed shifts/trips/household fees). The quarter saw a strong and continued improvement in economic activities across all the regions where the company provides services, the company said in a statement on Wednesday, 13 July.

Total compost sales stood at 4,406 tons as compared to 3,339 tons in the previous quarter (up 32% sequentially) due to seasonal factors. On a YoY basis, it is down 9.2%, due to a delay in offtake by a client. The same is expected to be remedied in Q2FY23, the company said.

Further, the company through its wholly owned subsidiary, bagged a 5-years C&T contract for two zones (Panchavati and Satpur) in the city of Nashik. The firm said it expects the project to commence operations on or before 30 September 2022.

Antony Waste Handling Cell provides full spectrum of MSW (Municipal Solid Waste) services which includes solid waste collection, transportation, processing and disposal services across India, majorly catering to municipalities.

On a consolidated basis, the company's net profit jumped 63% to Rs 25.5 crore on 22% increase in total operating revenue to Rs 146.4 crore in Q4 March 2022 over Q4 March 2021.

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