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What is the story about?
Dilip Buildcon Limited on Friday, February 13, said it has received a Letter of Award (LoA) from the Petroleum and Natural Gas Regulatory Board (PNGRB) for an air turbine fuel (ATF) pipeline project worth ₹124 crore in Gujarat.
In an exchange filing, Dilip Buildcon said it has been selected as the successful entity for securing the authorisation to lay, build, operate or expand an ATF pipeline from Navgam, Gujarat, to Sardar Vallabhbhai Patel International Airport, Gujarat.
The project involves the grant of an exclusive licence by PNGRB for a period of 25 years, under which the company will act as the authorised entity for the development of the pipeline infrastructure, including financing, construction and operation, along with the right to levy and collect tariffs for transportation of ATF up to the designated delivery point.
Also read: Cohance Lifesciences shares hit fresh 52-week low, plunge 9% after sharp decline in Q3 net profit
The project will be implemented through a special purpose vehicle (SPV), in which Dilip Buildcon will hold 100% equity. The engineering, procurement and construction (EPC) works are to be executed over a period of 24 months.
Following the disclosure, Dilip Buildcon said the trading window for dealing in the company’s securities has been closed for insiders and designated persons, in line with insider trading regulations, and will reopen 48 hours after the information is made public.
For the December quarter, the company's net profit stood at ₹830 crore, compared with ₹115.3 crore in the same quarter last year. The quarter’s bottom line includes a one-time exceptional gain of ₹585 crore, which significantly boosted reported profitability.
Read more: Lupin shares fall nearly 2% despite Q3 beat; Morgan Stanley reiterates ‘Equal-weight’
Revenue declined 17.5% year-on-year to ₹2,138 crore from ₹2,590 crore in Q3 last year. EBITDA fell 20% to ₹382 crore, compared with ₹467 crore a year ago. As a result, EBITDA margin slipped to 17.9% from 18.4%
Shares of the company were trading 3.77% down at ₹436.30 as of 12.03 pm. The stock has declined 7.33% in the past month.
In an exchange filing, Dilip Buildcon said it has been selected as the successful entity for securing the authorisation to lay, build, operate or expand an ATF pipeline from Navgam, Gujarat, to Sardar Vallabhbhai Patel International Airport, Gujarat.
The project involves the grant of an exclusive licence by PNGRB for a period of 25 years, under which the company will act as the authorised entity for the development of the pipeline infrastructure, including financing, construction and operation, along with the right to levy and collect tariffs for transportation of ATF up to the designated delivery point.
Also read: Cohance Lifesciences shares hit fresh 52-week low, plunge 9% after sharp decline in Q3 net profit
The project will be implemented through a special purpose vehicle (SPV), in which Dilip Buildcon will hold 100% equity. The engineering, procurement and construction (EPC) works are to be executed over a period of 24 months.
Following the disclosure, Dilip Buildcon said the trading window for dealing in the company’s securities has been closed for insiders and designated persons, in line with insider trading regulations, and will reopen 48 hours after the information is made public.
For the December quarter, the company's net profit stood at ₹830 crore, compared with ₹115.3 crore in the same quarter last year. The quarter’s bottom line includes a one-time exceptional gain of ₹585 crore, which significantly boosted reported profitability.
Read more: Lupin shares fall nearly 2% despite Q3 beat; Morgan Stanley reiterates ‘Equal-weight’
Revenue declined 17.5% year-on-year to ₹2,138 crore from ₹2,590 crore in Q3 last year. EBITDA fell 20% to ₹382 crore, compared with ₹467 crore a year ago. As a result, EBITDA margin slipped to 17.9% from 18.4%
Shares of the company were trading 3.77% down at ₹436.30 as of 12.03 pm. The stock has declined 7.33% in the past month.
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