Sindhu Trade Links shares surge 5% as profit soars 438% in Q1

Shares of Sindhu Trade Links rebounded and surged 5 per cent on Wednesday, after the company announced its earnings for the quarter ended on June 30, 2023. The company announced its earnings for the first quarter of the ongoing fiscal year on Saturday through an exchange filing.

For the three months ended on June 30, 2023, Sindhu Trade Links reported a 438 per cent rise in the consolidated net profit at 29.34 crore. The company had clocked a net profit at Rs 5.45 crore in the same quarter previous year, the company said in the exchange filing.

Its revenue from operations surged about 75 per cent to Rs 427.14 crore in the June 2023 quarter, compared to Rs 245.5 crore in the year ago period. EBITDA came in at Rs. 94.72 crore in June 2023 period, up 126 per cent from Rs. 41.91 crore a year ago, the filing said.

Following the announcement, shares of Sindhu Trade Links surged about 5 per cent to Rs 24.98 on Wednesday from its opening price at Rs 24, commanding a total market capitalization of more than Rs 3,725 crore. The scrip had settled at Rs 24.15 on Monday.

Sindhu Trade Links will be undertaking the development of a mixed-use township in Bilaspur, one of the 100 Indian cities to be developed as a Smart city ulder the 'Smart Cities Mission.' The proposed township is spread over 63 acres, out of which the company already owns about 47 acres of land and has tied up with other partners for another 16 acres.

The project consists of residential plotted development, residential group housing, retail shopping mall and also consists of all the required social infrastructure for a world class development in this region, it said. The total revenue potential of this development is about Rs 550 crores, based on the ongoing property rates in the vicinity.

Delhi-headquartered Sindhu Trade Links is flagship company of the conglomerate engaged in the businesses of coal logistics, transportation, mining, coal beneficiation, power generation, media, finance for more than 20 years.

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