VA Tech Wabag’s Q3 2023 financials indicate robust growth

VA Tech Wabag Limited has revealed a consistent profit increase trend in its Q3 2023 consolidated financial results. The company reported a quarter-to-quarter and year-on-year net profit growth, climbing to Rs. 60.2 crores from Q2’s Rs. 50 crores and Q3 2022’s Rs.46.7 crores.

Although the company experienced an income decrease in Q3 2023 to Rs. 680.4 crores from Q3 2022’s Rs.773.2 crores, it exhibited improvement over Q2’s income of Rs. 578.5 crores. The half-year financial performance ending September 2023 reported a total income of Rs.1258.9 crores and net profit of Rs.110.2 crores, surpassing the previous year’s half-year figures.

A closer look at the September 2023 financials shows a 5.43% increase in net sales to Rs 604.10 crore and a near 59% surge in quarterly net profit to Rs 54.10 crore, compared to the same period a year earlier. The EBITDA rose by over 45% to Rs 90.60 crore, and the EPS saw a notable increase to Rs 8.72 from Rs 5.48.

The company’s shares on NSE have displayed robust performance, closing at Rs 500.90 on November 03, 2023, delivering returns of approximately 31% and 88% over the last six months and year respectively, indicating a positive market response to the company’s financial performance.

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