Praj Industries Hits Upper Circuit on March Quarter Earnings

Praj Industries shares jumped 20 per cent to hit their maximum intraday limit of  Rs 70.40 on Friday, as the company reported a 76 per cent jump in net profit for the March quarter on Thursday post-market hours.

The Pune-based construction and engineering company had on Thursday reported a consolidated net profit of Rs 36.61 crore for the quarter ended March, 2015, compared to Rs 20.78 crore a year ago.

Total income from operations was at Rs 306 crore as against Rs 349 crore in the year-ago period.

For the entire financial year 2014-15, Praj Industries registered 2.6 per cent growth in income from operations at Rs 1,011.85 crore.

The company said its order book grew 25 per cent during the year.

Gajanan Nabad, CEO and MD at Praj Industries, said, "Close to 40 per cent orders are from newer businesses and close to 50 per cent orders are international. So it's a good mix." (Watch)

The company's efforts in terms of value maximization led to operational efficiencies and high quality orders, among others, Mr Nabad added.

Praj Industries shares ended 20 per cent higher at Rs 70.40 apiece on the BSE.