Shares of infrastructure firm IL&FS Engineering and Construction today surged 5 per cent to hit its upper circuit limit on bourses after the company reported robust September quarter results.
The net profit of the company surged to Rs 40.14 crore in the September quarter against a net loss of Rs 81.59 crore in the same quarter of last year. The company's income from operations, however, declined to Rs 340.84 crore in the quarter ending September, from Rs 356.87 crore in the September quarter 2016, the company said in a regulatory filing.
The company had announced the September quarter results after market hours yesterday. Following the strong September quarter results, the shares of the company opened on a bullish note and touched upper circuit limit of Rs 46.55 on the BSE.
Similar movement was seen on the National Stock Exchange as well where the stock got stuck at its upper circuit limit of Rs 46.30. Meanwhile, the S&P BSE Sensex was up 46.59 points at 33,667.14 in morning trade.