'Jal Jeevan mission and water-based projects boost lifts Om Infra's net profit 122 per cent in Q1, order books remains healthy

PNN
New Delhi [India], August 14: Om Infra, one of the leading infra construction and engineering majors, reported a strong set of numbers for the quarter ended on 30th June 2023. The diversified conglomerate continued to clock a stellar performance in the June 2023 quarter, with its bottom line jumping more than 100 per cent on a year-on-year (YOY) basis.
In the June 2023 quarter, Om Infra reported a 122 per cent increase YOY in its net profit, which came in at Rs. 15.97 crore. Its net profit stood at Rs. 7.20 crore in the corresponding quarter a year ago.
The company clocked 125 per cent per cent higher YOY revenue from operations to Rs. 262.71 cr in the first quarter of ongoing fiscal, compared to Rs 116.85 cr in the same quarter previous year.
Earnings per share (EPS) for q1 of the company improved to Rs 1.66 from Rs 0.75 during the period under review, while its Debt-to-Equity (D/E) ratio stood sound at 0.05 times.  Project execution in 'Jal Jeevan Mission' and other projects are going smoothly and are at expected level of progress, said the company.
“Om infra is delighted to report its first quarter results as the company has recorded healthy growth in both top line and bottom line.  The company's performance more than doubled from the same period last year. The spectacular initiatives of the Governments like 'Jal Jeevan Mission' and other infra boost has played the major role in this robust performance," said SK Jain, CFO, Om Infra.
"We continue to focus on our long-term vision and our order book remains strong at around Rs 2,500 crore executable in the next two years and company is poised to enhance it. The company has negligible debtand healthy assets base.  We continue to foster well in the constantly evolving and improving water-infrastructure landscape of the country to achieve 4 digit topline ahead,” Jain added.
Operating profit of the company improved close to 70 per cent at Rs 22 crore, with operating profit margins coming in at 8 per cent for the June 2023 quarter. The return on equity (ROE) stands at 4.80 per cent, while its return on capital employed is seen at 9.77 per cent which will further improve with the monetization of inventory in real estate project. The company commands a total market capitalization of more than Rs 530 crore and has proposed a dividend of 50% in AGM.
Rajasthan-based Om Infra is a conglomerate involved in diverse business activities and interests related to Hydro-mechanical equipment, turnkey solutions for infra engineering, water pipelines and civil structures of dams etc and more.
Om Infra is currently working on multiple engineering projects, including some backed by the government such as 'Har Ghar Jal' and various other infra and water storage projects including dams, canals and more in the various parts of the country covering almost 16 states including Nepal and Rwanda (Africa) in the foreign market.
(Disclaimer: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)