Shares of Gammon Infrastructure surged over 16 per cent to hit intraday high of Rs 17.40 on Monday after the company reported strong earnings for the third quarter of FY15 on Saturday.
Gammon Infra reported a net profit of Rs 6 crore against net loss of Rs 31 crore in the same quarter last financial year on account of higher sales and lower interest cost.
Company's revenues increased 82 per cent to Rs 253 crore from Rs 139 crore annually.
Interest cost of the company declined to Rs 59 crore from Rs 72 crore annually boosting its bottom-line.
Kishore Kumar Mohanty, managing director at Gammon Infra, told NDTV that three more projects are on the verge of commencement, which can add another Rs 400-Rs 500 crore to their top-line in FY16. Gammon Infra expects to book revenue of Rs 1,500 crore in FY16, said Mr Mohanty. (Watch)
Shares in Gammon Infra ended 8.7 per cent higher at Rs 16.25 apiece, outperforming the broader Nifty, which closed up 0.04 per cent.
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