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Ion Exchange shares rise after winning order worth Rs 168 cr; check details
Source: Business Standard
Ion Exchange share price surged up to 3 per cent to record an intraday high of Rs 685.20 per share on the BSE on Monday. This came after the company on Friday said that it received an order worth Rs 168 crore.
The work contract is awarded by Italy based Technimont SpA totaling to Rs 168 crore for the Hail & Ghasha Development Project of Abu Dhabi National Oil Company in UAE. The prokect is expected to be completed in 61 weeks from project award date, the company said in an exchange filing.
In the April-June quarter of financial year 2024-25 (Q1FY25), Ion Exchange reported an 18.67 per cent year-on-year increase in revenue, reaching Rs 579 crore for Q1FY25. However, on a quarterly basis, revenue fell by 27.5 per cent compared to the previous three months.
Net profit for Q1FY25 rose by 35.14 per cent year-on-year, totaling Rs 44.96 crore. Conversely, on a quarterly basis, net profit decreased by 38.23 per cent over the last three months.
The company has a total market capitalisation of Rs 9,910.99 crore. Its shares are trading at a price to earnings multiple of 46.43 times with an earning per share of Rs 14.33 per share.
At 10:16 AM; the share price of the company was trading 1.59 per cent higher at Rs 433.50. By comparison, the BSE Sensex was trading 0.06 per cent lower at 81,136 levels.
Ion Exchange (India) Ltd, a leader in the Indian water treatment industry, provides comprehensive water management solutions for industries, homes, and communities. It is among the few companies globally offering a complete range of technologies, products, and services covering all aspects of water and wastewater treatment.
Its offerings include water process systems, wastewater treatment, and recycling plants employing various physico-chemical processes, such as clarification, filtration, disinfection, membrane and ion exchange technologies, as well as ion exchange resins, polymers, and polyelectrolytes for both water and non-water processes.
First Published: Sep 09 2024 | 10:38 AM IST
