Era Infra slips after Q4 results

Era Infra Engineering slipped 0.47% to Rs 612 at 12:17 IST on BSE despite reporting 20.84% rise in net profit to Rs 36.76 crore on 122.72% increase in total income to Rs 622.04 crore in Q4 March 2008 over Q4 March 2007.

The stock hit a high of Rs 632 and a low of Rs 601.10 so far during the day. The stock had a 52-week high of Rs 957 on 28 December 2007 and a 52-week low of Rs 350.30 on 20 June 2007.

The company has an equity capital of Rs 23.10 crore. Face value per share is Rs 10.

The current price of Rs 612 discounts its Q3 December 2007 annualised EPS of Rs 47.86, by a PE multiple of 12.79.

Era Infra Engineering’s net profit rose 53.14% to Rs 121.37 crore on 93.51% increase in total income to Rs 1499.28 crore in the year ended March 2008 over the year ended March 2007.

On 16 June 2008, Era Infra Engineering (EIEL) bagged two orders totaling Rs 65.5 crore from two different clients.

On 6 June 2008, the company bagged a contract worth Rs 85.20 crore from Mumbai Railway Vikas Corporation for construction of a car shed.

In April 2008, EIEL bagged an order worth Rs 4 crore from Jeet builders for supply of ready mix concrete for the construction of multi storied residential complex at Greater Noida.

Era Infra Engineering builds industrial complexes, residential buildings, multiplexes, super malls, power projects and airports. The company is diversifying its revenue stream by entering into new segments such as irrigation and build operate and transfer (BOT) projects.