Ashoka Buildcon Gains 1% on Bagging Rs 645.70 Crore Orders from Maharashtra State Electricity

20 Sep 2023 , 11:34 AM

Ashoka Buildcon shares surge 1% after securing Rs 645.70 crore worth of orders from Maharashtra State Electricity Distribution Company. The orders pertain to distribution infrastructure development in Yavatmal, Nashik Urban, Latur, and Osmanabad circles under the revamped distribution sector scheme.

Q1 results show a 2.98% YoY increase in revenue at Rs 1,935 crore but a 46.66% YoY decrease in net profit at Rs 72 crore. Operating profit margins contract by 200 basis points YoY to 24%. Ashoka Buildcon is a key player in infrastructure construction and development, specializing in roads, highways, bridges, and critical projects in India.

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