Amidst a stellar rally in the stock market on Wednesday, shares of Infra-to-energy player Hazoor Multi Projects ended the trading session with a gain of 8.57 per cent. The counter started the trading session at Rs 35 against the previous close of Rs 34.52. Amid a spurt in trading volume, the counter gained to touch the high of Rs 38, a jump of 10.08 per cent. It ended the trading session at Rs 37.60 with a gain of 8.92 per cent. The market cap of the company stood at Rs 862.85 crore.
The 52-week high of the stock is Rs 59.59, and the 52-week low is Rs 26.80.
Wins contract from NHAI
The company recently announced in a filing that it has received a significant contract from the National Highways Authority of India (NHAI). NHAI has awarded Hazoor Multi Projects the responsibility of operating the user fee/toll collection agency at the Rampura toll plaza (km 23,300, NH 548B - Vijaypur to Sankeshwar section). This work covers a 2/4 lane road (including paved shoulders) stretching from km 0/000 to km 79/700.
The company will also be responsible for the maintenance, upkeep, and replenishment of the toilet block located near the toll plaza.
The total project is worth Rs 13.87 crore and was awarded based on competitive bidding through e-tendering. The company stated that this contract will further strengthen its infrastructure operations portfolio and expand its presence in highway management.
Quarterly Results
In its filing, the company stated that its sales fell by 33.30 per cent to Rs 102.11 crore in the September quarter, compared to Rs 153.08 crore in the same quarter last year. The company reported a net loss of Rs 9.93 crore this quarter, compared to a net profit of Rs 11.02 crore in the same quarter the previous year.
The company's operating profit margin (OPM) fell from 11.86 per cent to 3.86 per cent in Q2. PBDT declined from a profit of Rs 16.37 crore to a loss of Rs 9.65 crore, while PBT also declined from a profit of Rs 14.77 crore to a loss of Rs 11.05 crore.
