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HG Infra Engineering Q2 Results | The EBITDA margin stood at 24.3% in the reporting quarter compared to 23% in the prior-year period. Shares of HG Infra Engineering Ltd ended at ₹1,287, up by ₹15.45, or 1.22%, on the BSE.
HG Infra Engineering Ltd on Monday (November 11) reported a 16% year-on-year (YoY) dip in net profit at ₹80.7 crore for the second quarter that ended September 30, 2024.
In the corresponding quarter of the previous fiscal, HG Infra Engineering posted a net profit of ₹96.1 crore, the company said in a regulatory filing. The company's revenue from operations fell 5.5% YoY to ₹902.4 crore over ₹954.5 crore.
At the operating level, EBITDA dipped 0.3% to ₹219.5 crore in the second quarter of this fiscal over ₹220.1 crore in Q2 of FY24.
The EBITDA margin stood at 24.3% in the reporting quarter compared to 23% in the prior-year period. EBITDA is earnings before interest, tax, depreciation, and amortisation.
In August this year, HG Infra Engineering emerged as the lowest bidder (L1) for a road upgrade project in Gujarat. The project involves upgrading the existing six-lane road, including an elevated corridor, spanning from Narol junction to Sarkhej junction along Highway 47 in the state.
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The estimated project cost as per the Road Transport Ministry (MoRTH) is ₹883.24 crore, with HG Infra's bid coming in at ₹781.11 crore. The project will be executed under the hybrid annuity mode (HAM), covering a length of 10.63 km. The construction period is expected to be two-and-a-half years.
Rajasthan-based HG Infra Engineering provides infrastructure construction services. The company offers highways, roads, bridges, runways, and civil construction, as well as land development, water pipelines, rehabilitation, and upgradation services.
The results came after the close of the market hours. Shares of HG Infra Engineering Ltd ended at ₹1,287, up by ₹15.45, or 1.22%, on the BSE.
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(Edited by : Shoma Bhattacharjee)
