Afcons Infra share price jumps up to 4.3% after Q2 profit rises 30% to ₹135 crore

The stock rose up to 4.34% to ₹518.85 per share on the NSE, in the early trade. At 9:40 am, it was trading 1.2% higher at ₹503.3.

The market capitalisation stands at ₹18,512.44 crore.

Afcons Infrastructure Q2 results: Net profit rises 30% to ₹135 crore

Afcons Infrastructure reported a 30% surge in its consolidated net profit to ₹135.43 crore for the latest September quarter.

In the year-ago period, the post-tax profit stood at ₹104.8 crore, the company said in an exchange filing.

The company's expenses declined 11.45% year-on-year to ₹2,898.90 crore in Q2 FY24 from ₹3,273.96 crore a year back.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) is reported 8.5% higher at ₹427 crore in the July-September quarter of the current fiscal against ₹394 crore in Q2 FY24. The EBITDA margin rose 13.8% from 11.5%.

Afcons Infrastructure, which is among India’s largest international infrastructure players, had an order book of ₹34,152 crore as of September 2024.

The ₹5,430 crore IPO of Afcons Infra consisted of fresh shares worth ₹1,250 crore and an offer-for-sale of ₹4,180 crore. The company has utilised the IPO proceeds up to ₹600 crore for debt repayment and 320 crore towards working capital requirements.

As of September 2024, the firm's consolidated net debt stood at ₹2,640 crore as against ₹1,789 crore as of March 2024.

Commenting on the results, Subramanian Krishnamurthy, Executive Vice Chairman (Whole-time Director) said, “We are delighted to share Afcons Infrastructure's performance for the second quarter and first half of FY25. At the outset, I sincerely thank all our investors for their overwhelming support during our recent IPO. Your trust inspires us as we embark on this exciting new chapter of growth and value creation."

"In Q2 FY25, we recorded total income of ₹3,090 crore, achieving our highest-ever quarterly EBITDA margin of 13.8% and a robust 30% year-on-year growth in profit after tax. Our strong order book of ₹34,152 crore, excluding L1 projects worth ₹10,154 crore, reflects our ability to secure high-quality projects and the confidence our clients place in our capabilities. This healthy and diversified orderbook provides strong revenue visibility for the future," he added.