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Shares of Dilip Buildcon Ltd rose as much as 4.8 per cent to Rs 888, their highest in over a week on strong results.
The company’s net profit more than doubled to Rs 255 crore in the first quarter of the current year against Rs 122 crore in the corresponding period of the last fiscal.
For the quarter ended June 30, 2018, the company has registered a 46 per cent growth in revenue at Rs 2,445 crore (Rs 1,666 crore). The increase in revenue was primarily on account of conversion of order book through execution.
Dilip Buildcon board has approved raising Rs 2,000 crore via NCDs and commercial papers on a private placement basis.
More than 252,700 shares traded vs 30-day average of 398,635 shares. As of last close, the stock had gained 61.8 per cent in the last 12 months.
(With inputs from Reuters)
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