Kaushalya Infrastructure Development Corporation Limited’s shares witnessed a surge of 20% on Thursday, June 1, after the announcement of its fourth-quarter results. The company’s shares closed at Rs 5.76 on the Bombay Stock Exchange, marking the highest level since December 7, 2022. The surge comes after a 44% increase in the company’s shares in the last two days. The company attributed the rise to the announcement of its fourth-quarter results, which showed a significant increase in net profits.
Key Highlights:
– Kaushalya Infrastructure Development Corporation Limited’s shares surged by 20% on June 1, 2022, after the announcement of its fourth-quarter results.
– The company’s shares closed at Rs 5.76 on the Bombay Stock Exchange, marking the highest level since December 7, 2022.
– The company reported a significant increase in net profits in the fourth quarter, which was the main reason behind the surge in its shares.
– The company’s consolidated net profit for the financial year 2022-23 was Rs 15.46 crore, compared to Rs 42.77 lakh in the previous year.
– The company owns three subsidiary companies and four joint ventures and associates.
According to the company, the increase in profits was due to revenue sharing from its partner companies. The company’s investments in its partner companies increased its value by Rs 16.99 crore. However, the company did not disclose any information about its subsidiary and joint venture companies’ earnings.
Kaushalya Infrastructure Development Corporation Limited owns three subsidiary companies, namely Bengal KDC Housing Development, KDC Construction Limited, and Kaushalya Energy Private Limited. It also has a step-subsidiary company called Ajoor Solar KDC Private Limited. The company has four joint ventures and associates, including Orion Abasan Private Limited, Kaushalya Construction Private Limited, Kaushalya Township Private Limited, and KIDCO NACC.
The company’s revenue for the financial year 2022-23 was Rs 12.44 crore, a decrease of 9.52% compared to the previous year’s revenue of Rs 13.75 crore. Similarly, the company’s net profit for the financial year 2022-23 was Rs 15.46 crore, compared to Rs 42.77 lakh in the previous year.
In conclusion, Kaushalya Infrastructure Development Corporation Limited’s shares witnessed a surge of 20% after the announcement of its fourth-quarter results, which showed a significant increase in net profits. The company’s investments in its partner companies contributed to the increase in its value. However, the company did not disclose any information about its subsidiary and joint venture companies’ earnings.
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