Ashok Buildcon rallies over 12% intraday as net profit rises over two-fold in Q4

NEW DELHI: Ashok Buildcon Ltd surged as much as 12.3 per cent in intraday trade on Thursday, a day after the company reported over two-fold increase in consolidated net profit at Rs 37.80 crore for the quarter ended March 31, 2015.

The stock closed the day at Rs 163.70; up 6.37%, on the BSE.

The company's net profit in the year ago period was Rs 13.56 crore, Ashoka Buildcon said in a filing to the BSE.

The company's total income from operations increased to Rs 803.03 crore over Rs 608.25 crore in the year-ago period, it said, adding that the company has raised Rs 500 crore through QIP in April 2015.