RPP Infra Projects shares zoomed 11.7 per cent at Rs 160.55 per share on the BSE in Tuesday’s intraday trade
SI Reporter New Delhi
RPP Infra Projects shares zoomed 11.7 per cent at Rs 160.55 per share on the BSE in Tuesday’s intraday trade. The stock price soared after the company bagged new work orders worth Rs 310.93 crore.
This includes an order from the office of the superintending engineer at PMGSY, PWD Meerut for construction of a new district jail at Hapur (UP) India on engineering, procurement and construction (EPC) model. The order will be executed in next 18 months and has a total amount of Rs 158.82 crore.
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Further, the company won another order from the same office with a value Rs 152.11 crore to construct a new district jail at Jaunpur, UP, India on EPC mode.
RPP Infra Projects specialises in infrastructure development, focusing on projects including highways, roads, and bridges. The company offers engineering, procurement, and construction (EPC) services for civil construction and infrastructure projects.
In the January-March quarter of fiscal year 2023-24, RPP Infra Projects has shown notable growth in revenue for the fourth quarter of the fiscal year 2023-2024, marking a 35.71 per cent increase compared to the same period last year, reaching Rs 434.85 crore. On a quarterly basis, the revenues soared 27.68 per cent compared to the preceding three months.
However, the company reported a decline in net profit, showing a decrease of 14.99 per cent year-on-year to Rs 13.61 crore for Q4FY24. Sequentially, the company saw a 15.52 per cent decline in net profits from the previous quarter.
Furthermore, the company’s net profit margins saw a notable decrease, falling by 37.36 per cent year-on-year to 3.13 per cent in Q4FY2024.
The smallcap civil construction firm has a total market capitalisation of Rs 604.21 crore with its shares currently trading at a price to earnings multiple of 10.01. The earning per share of the company stood at Rs 14.36, BSE data showed.
At 02:24 PM; the stock of the company was trading 10.86 per cent higher at Rs 159.25 per share on the BSE. In comparison the BSE Sensex rose 0.46 per cent to 80,328 levels.
