Alstom T&D India hits 52-week high on robust Q2 results

Alstom T&D India has rallied 7% to Rs 425, extending its previous day’s 4% gain on BSE, after reporting a robust 71% year on year (yoy) jump in net profit to Rs 35.52 crore for the quarter ended September 30, 2014 (Q2),  on back of strong operational performance. The electric utilitiescompany had profit of Rs 20.81 crore in a year ago quarter Stock Market Trading Tips

Operational revenues of the company grew 12% to Rs 914 crore in July-September quarter against Rs 817 crore in the corresponding quarter of previous fiscal.

EBITDA (earnings before interest, taxation, depreciation and amortisation) expanded by 100 bps to 10.27% from 9.27% during the recently concluded quarter Nifty Trading Tips

Meanwhile, speaking to CNBC-TV18, Rathin Basu, President & Managing Director of Alstom T&D India said the company has received the prestigious Champa Phase II HVDC bulk projects, adding that the order backlog now stands at Rs 7,800 crore.

The stock opened at Rs 405 and hit a 52-week high of Rs 429 on BSE. A combined 275,166 shares changed hands in first 45 minutes of trading on BSE and NSE Financial Astrology Trading Tips