Akash Infra-Projects Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 14, 2023 at 04:22 am EST
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Akash Infra-Projects Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 148.78 million compared to INR 114.77 million a year ago. Revenue was INR 149.81 million compared to INR 116.02 million a year ago. Net income was INR 2.65 million compared to net loss of INR 13.88 million a year ago. Basic earnings per share from continuing operations was INR 0.22 compared to basic loss per share from continuing operations of INR 0.82 a year ago. Diluted earnings per share from continuing operations was INR 0.22 compared to diluted loss per share from continuing operations of INR 0.82 a year ago.
For the nine months, sales was INR 484.95 million compared to INR 380.57 million a year ago. Revenue was INR 493.95 million compared to INR 384.83 million a year ago. Net income was INR 13.74 million compared to net loss of INR 4.61 million a year ago. Basic earnings per share from continuing operations was INR 0.83 compared to basic loss per share from continuing operations of INR 0.28 a year ago. Diluted earnings per share from continuing operations was INR 0.83 compared to diluted loss per share from continuing operations of INR 0.28 a year ago.
Akash Infra-Projects Limited is an India-based company, which is engaged in the business of civil constructions. The Company's services include road construction, hotel, petroleum and real estate. It undertakes various government contracts for construction, resurfacing, widening and repair of the roads and bridges mainly from the State Government Departments and Municipal and Local Bodies through tender bidding in state of Gujarat. The Company also undertakes the project for construction and development of a commercial complex, hotels and hospitals. It is also engaged in the hospitality business. The Company, through its associate, Akash Petroleum Private Limited, is a dealer of Bharat Petroleum Corporation Ltd. The Company, through its associate, Akash Residency & Hospitality Private Limited, is engaged in the real estate business. Its subsidiaries include Akash Infra Inc. and Akash International LLC.