VA Tech Wabag stock surges 4% after Q1FY21 numbers

We are now in the phase of progressive resumption of site activities to achieve full capacity at the earliest, Rajiv Mittal said.

Sep 16, 2020 05:09 IST India Infoline News Service

VA Tech Wabag Limited, a leading Indian Multinational Company in the water sector, posted a net profit of Rs5.11cr, up 95.04% in the quarter ended June 2020 as against Rs2.62cr during the previous quarter ended June 2019. 

The sales of the company declined 5.62% to Rs430.87cr in the quarter ended June 2020 as against Rs456.53cr during the previous quarter ended June 2019.

Q1FY20 -21 Highlights:
• Order Book of Rs11,117cr including Framework contracts
• Order Intake of Rs442cr
• Consolidated EBITDA of Rs29cr; EBITDA margin of 6.7%

Commenting on the results, Rajiv Mittal, Managing Director, VA TECH WABAG LIMITED said, "In a quarter marred by the COVID pandemic, WABAG contributed its share to ensure water security and we are extremely proud of our COVID warriors for the same. We are now in the phase of progressive resumption of site activities to achieve full capacity at the earliest. I am also happy to note that in this tough economic environment we have been able to secure a major order of 48 Million USD towards building a 300 MLD STP at Jeddah, KSA, further strengthening our growing presence in the Middle East.”

The stock ended at Rs217.45, up by Rs9.2 or 4.42% from its previous closing of Rs208.25 on the BSE.

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