VA Tech does well

VA Tech Wabag is doing exceedingly well today, figuring among the top five gainers on the BSE. As against its yesterday’s close of Rs.295.55, it opened today at Rs.310 and went up to an intraday high at Rs.340. Its 20% UC for the day is at Rs.354.65.

A good earning and robust order book is working in its favor. The company, for Q3Fy22 reported a 18% (YoY) rise in consolidated net profit at Rs.45 crore and this was on a net revenue of Rs.745 crore, a decline of 6.5%.

The good news is that the company’s order book position continues to remain higher than Rs.10,000 crore over the last few quarters, along with the improved pace of execution and it expects to keep the momentum going in Q4 too.

Last month, the company secured an order worth about $100 million towards engineering and procurement activities in relation to 120 million gallons per day (MiGD) Hassyan Sea Water Reverse Osmosis (SWRO) in the United Arab Emirates (UAE).