Va Tech Wabag Ltd Q3 FY24 Results: Net Profit Surges by 34.62%

About the Result

Va Tech Wabag Ltd which is engaged in the business of the water treatment field declared its result today just before the market closure. On a consolidated basis, in comparison to the same quarter last year, the company’s net profit for the third quarter which ended on December 31, 2023, increased by 34.62% to Rs 62.6 crore from Rs 46.5 crore. In Q3FY24, the company’s total net revenue increased by 8.34% from Rs 653.6 crore to Rs 708.1 crore in a similar quarter the year prior.

In comparison to last quarter, the company’s net profit for the third quarter, increased by 4.16% from Rs 60.1 crore. In a similar period, the company’s total net revenue increased by 4.07% from Rs 680.4 crore. For the 9MFY24 company’s net profit increased by 40.11% to Rs 172.2 crore from Rs 122.9 crore. In a similar period, the company’s total net revenue decreased by 5.81% to Rs 1967 crore from Rs 2088.3 crore.

Order intake for the quarter stands at Rs 1762 crore and the total order book for the quarter end stands at Rs 11,900 crore including framework contracts. Late investor Rakesh Jhunjhunwala holds 8.04% of the company now the shares of the company are in his wife’s name Rekha Jhunjhunwala.

Stock Performance

In the last trading session, the stock closed at Rs 705.40. Today, it opened at Rs 707.40 and closed at Rs 686.40, down by 2.69%. Shares of the company have a 52-week high stands at Rs 730.20, while its 52-week low stands at Rs 304.55. Currently, the company boasts a market capitalisation of approximately Rs 4,300 crore. Over the past one year shares of the company have given multibagger returns of 111.66% in the same time frame BSE Utilities has increased by 95.93%.

About the company

WABAG is a global leader in the water industry backed by rich experience spanning over 100 years. Being a pure-play water technology multinational, WABAG offers a complete range of technologies and services for Total Water Solutions in both Municipal and Industrial sectors. Spread over 25 countries in 4 continents, WABAG has built over 1,400 municipal and industrial plants with customized solutions matching to its customers’ needs. WABAG is a complete life-cycle partner for building water and wastewater infrastructure covering Design, Engineering, Supply, Construction, Installation, Start up and Long-term Operational Management across various business models.

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