IRB Infra surges as Q3 beat estimates

IRB Infrastructure & Developers, a highway construction company, climbed on Wednesday after it has posted better-than-expected Q3 earnings.The company announced agrowth of 8.62% in consolidated net profit to Rs 1.43 billion for the quarter ended Dec. 31, 2012. Analysts on an average had estimated profit of Rs 1.22 billion.

Consolidated revenues of the company rose 22.52% to Rs 9.14 billion for the quarter ended Dec. 31, 2012 from Rs 7.46 billion in the year ago period. Shares of the company are trading at Rs 124.85, up Rs 6.5, or 5.49% at the Bombay Stock Exchange (BSE) on Wednesday at 3:10 p.m.The scrip has touched an intra-day high of Rs 125.95 and low of Rs 120.10. The total volume of shares traded at the BSE is 1,063,430.In the earlier session, the shares fell 0.08%, or Rs 0.10, at Rs 118.35. Currently, the stock is trading down 40.59% from its 52-week high of Rs 210.15 and above 24.54% over the 52-week low of Rs 100.25.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 120.00 (1.65) (1.38) 1 Month 133.40 (15.05) (11.28) 3 Months 125.55 (7.20) (5.73) 6 Months 119.00 (0.65) (0.55) 1 Year 169.25 (50.90) (30.07) Note: Based on previous day closing price.