Punj Lloyd jumped up today morning over 18% at Rs.19.10. The counter is witnessing massive volumes too – from 2-week average of 1.59 lakh shares traded to almost 5.5 lakh shares today morning. Its 52-week high is at Rs.29.15.
The market is thrilled to bits with the company’s Q4FY18 performance. The company posted a ‘turnaround’.
From a loss of Rs.182 crore it posted a net profit of Rs.944 crore on a 19% (YoY) rise in revenue at rs.1060 crore.
The turnaround coms into perspective when we understand that it had a deferred tax credit of Rs.1199 crore in the Q4 which is what helped the ‘return to black’.
EBIDTA loss for Q4FY18 was at Rs.14 crore v/s loss of Rs.109 crore (YoY) – yes, this is good news as it has managed to bring down the operating loss down significantly.
In Q4, the company won two contract worth Rs 1,300 crore for two six laning of NH5 in Odisha. The Board approved proposal to restructure the outstanding credit facilities by way of conversion of such credit facilities into securities (non-convertible/redeemable/convertible) on preferential basis, issuance of securities (non-convertible/redeemable/convertible) to promoters/investors on preferential basis.