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The civil construction company received project for development of distribution infrastructure under revamped distribution sector scheme (RDSS).
The project entails loss reduction works at Yavatmal Circle, Amravati Zone; Nashik Urban Circle, Nashik Zone; Latur Circle, Latur Zone; Osmanabad Circle, Latur Zone.
The accepted contract value in aggregate for all above projects is Rs 645.70 crore.
Ashoka Buildcon is presently engaged in the business of construction of infrastructure facilities on engineering, procurement and construction basis (EPC) and built, operate and transfer (BOT) basis and sale of ready mix concrete.
The company reported 49.7% decline in consolidated net profit to Rs 67.72 crore in Q1 FY24 as against Rs 134.55 crore posted in Q1 FY23. Revenue from operations rose 3% year on year (YoY) to Rs 1,935.16 crore in the quarter ended 30 June 2023.
The scrip rose 0.80% to currently trade at Rs 106.45 on the BSE.
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