Shares of construction company Dilip Buildcon were trading higher on Monday after the company swung into profit in the December quarter. The company posted a net profit of Rs 111.03 crore in the quarter ended December 2022 as against a net loss of Rs 19.16 crore reported in the year-ago quarter.

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Its net sales rose 3.4 percent year-on-year (YoY) to Rs 2,322.44 crore in the quarter under review from Rs 2,256 crore in the corresponding quarter of the previous year.

The net order book as on December 2022 stood at Rs 26,538.5 crore and over 39 percent of the order book is constituted by roads and highways projects, according to a regulatory filing to the stock exchanges.

On a standalone basis, the construction firm reported a profit after tax (PAT) of Rs 79.5 crore in third quarter ended December 2022 (Q3FY22) as against loss of Rs 96.7 crore in the same quarter of the preceding fiscal.

Revenue from operations increased by 8.25 percent y-o-y to Rs 2,378.8 crore in Q3FY23 on a standalone basis.

The company's earnings before interest, taxes, depreciation and amortisation rose to Rs 249.7 crore in Q3FY23. The margins surged to 10.5 percent in the quarter under review from 0.29 percent in the year ago period.

Dilip Buildcon’s revenue from irrigation segment climbed 245 percent y-o-y to Rs 245.1 crore in Q3 FY23 and revenue from metros, airports and water supply segment went up by 146 percent y-o-y Rs 173.2 crore in the quarter under review.

However, its revenue from the roads, special bridges and tunnels segment dropped to Rs 1,744.9 crore and revenue from mining segment too slipped 2 percent to Rs 162.7 crore during the period under review.

Following the quarterly earnings, shares of Dilip Buildcon were trading 0.42 percent higher at Rs 215.5 on the NSE (around 11:50 am). The counter has gained around 15 percent from its 52-week low of Rs 187.45 touched on July 1, 2022 on the NSE.

(Edited by : C H Unnikrishnan)