Ashoka Buildcon reports turnaround Q3 numbers

Ashoka Buildcon reported net profit of Rs 66.72 crore in Q3 FY23 as against net loss of Rs 693.55 crore posted in Q3 FY22.

Revenue from operations jumped 41.3% year on year (YoY) to Rs 1,559.51 crore in the quarter ended 31 December 2022.

The company reported profit before tax of Rs 88.89 crore in the third quarter as against a pre-tax loss of Rs 661.43 crore in the corresponding quarter previous year.

During the quarter, EBITDA declined 1.6% YoY to Rs147 crore while EBITDA margin stood at 9.3% in Q3 FY23.

On consolidated basis, the company's net profit tumbled 65.3% to Rs 136.10 crore despite of 35.8% jump in revenue from operations to Rs 1,956.25 crore in Q3 FY23 over Q3 FY22.

Consolidated debt was Rs 6,987 crore. The debt on a standalone basis stood at Rs 846 crore; which comprises of Rs 146 crore of equipment loans & Rs 699 crore of working capital loans.

As on 31 December 2022, total order book of the company was at Rs 16,140 crore.

Ashoka Buildcon is engaged in construction & maintenance of roads and supporting services to land support-operation of toll roads.

The scrip shed 1.14% to end at Rs 78.25 on Friday, 10 February 2023.

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