HG Infra Engineering’s Q2 net profit slips ~16%

12 Nov 2024 , 01:14 PM

On Monday (November 11), HG Infra Engineering Ltd announced that the company has logged a 16% year-on-year (YoY) decrease in net profit to ₹80.7 Crore for the second quarter ended September 30, 2024.

As per the filing, in the preceding fiscal quarter, HG Infra Engineering logged a net profit of ₹96.1 Crore. The company’s revneue from operations slipped 5.5% YoY to ₹902.4 Crore against ₹954.5 Crore in the previous corresponding period.

In the second quarter of this fiscal, EBITDA decreased by 0.3% to ₹219.5 Crore, against ₹220.1 Crore in Q2 of FY24.

In the quarter under review, the EBITDA margin was 24.3%, up against 23% in the previous year. 

In August of this year, HG Infra Engineering was announced the lowest bidder (L1) for a road upgrade project in Gujarat. The project includes the renovation of an existing six-lane road, which includes an elevated corridor, that runs from Narol junction to Sarkhej junction on National Highway 47 in the state.

The Road Transport Ministry (MoRTH) estimated a cost of ₹883.24 Crore, with HG Infra’s bid at ₹781.11 Crore. The project will be carried out using the hybrid annuity method (HAM) and will span 10.63 kilometres. The building period is projected to last two and a half years.

HG Infra Engineering, situated in Rajasthan, provides infrastructure construction services. The company deals in highways, roads, bridges, runways, civil construction, land development, water pipes, rehabilitation, and upgrading services.

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