13 Nov , 2024 By : Debdeep Gupta
Shares of KNR Constructions skyrocketed 14 percent to Rs 324 per share on November 13 after it reported blockbuster July-September quarter (Q2FY25) performance.
The company's net profit jumped by a whopping 310 percent year-on-year (YoY) or four-fold to Rs 585 crore in Q2FY25 from Rs 143 crore in the year-ago period. Revenue, too, saw a growth of 87 percent YoY to Rs 1,945 crore in Q2FY25, as compared to Rs 1,038 crore in Q2FY24.
At the operating level, KNR Constructions EBITDA also increased by 275 percent YoY to Rs 870 crore in Q2FY25, while margins saw a sharp expansion of 2,242 basis points (bps) YoY to 44.7 percent during the quarter under review.
Around 17 brokerages cover KNR Constructions, with 5 recommending a "buy" call on the counter, 6 sharing a "hold" call, and 6 suggesting a "sell" rating. So far this year, shares of KNR Constructions have surged over 20 percent, significantly beating Nifty 50's 9 percent rise.
In the prior month, the company entered into a share purchase agreement for the transfer of the entire stake in KNR Muzaffarpur Barauni Tollway to JKM Infra Projects.
Further, KNRC Holdings and Investments, the wholly owned subsidiary of the company has entered into a Share Purchase Agreement for transfer of its entire stake i.e. 100 percent in KNR Muzaffarpur Holdings to JKM Infra Projects.
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