Shares of Ashoka Buildcon Ltd fell 3.23% to ₹175.50 in Friday’s session, extending its monthly decline to 32% amid weaker revenue performance for the December quarter. The stock has faced selling pressure as investors reacted to its latest earnings report.
Q3 FY24 Financial Performance
Ashoka Buildcon reported consolidated net sales of ₹2,387.89 crore in December 2024, marking a 10.13% YoY decline compared to ₹2,657.12 crore in December 2023. Despite this, the company’s net profit surged 509.99% YoY to ₹654.51 crore, up from ₹107.30 crore in the same quarter last year.
EBITDA stood at ₹677.34 crore, reflecting a modest 6.03% YoY increase from ₹638.80 crore in December 2023. Meanwhile, the company’s earnings per share (EPS) jumped significantly to ₹23.32 in Q3 FY24 from ₹3.82 in Q3 FY23.
Stock Performance and Outlook
Ashoka Buildcon’s stock has been under pressure, shedding 32% over the past month amid concerns over revenue contraction. The company’s net profit growth was primarily driven by one-time gains rather than operational improvements, which has led to a cautious outlook among investors.
As of 9:27 AM on February 28, Ashoka Buildcon was trading at ₹175.50, down 3.23%, with an intraday low of ₹173.20 and a market capitalization of ₹49.47 billion.
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