MEP Infrastructure Developers zooms on its way up on bagging new order
DSIJ Intelligence / 03 Jan 2017
MEP Infrastructure Developers (MEP) has bagged a project worth Rs 60.03 crore in Uttar Pradesh. The company has received the Letter of Acceptance (LoA) from National Highways Authority of India (NHAI).
MEP Infrastructure Developers (MEP) has bagged a project worth Rs 60.03 crore in Uttar Pradesh. The company has received the Letter of Acceptance (LoA) from National Highways Authority of India (NHAI). The contract is for the collection of user fee through competitive bidding on e-tender basis only for BRIJGHAT FEE PLAZA at 88.5 for the section from km 58 to km 93 (Hapur-Garhmuketeshwar Section) of National Highways No. 24 in UP.
MEP's period of contract is one year. The operations will commence within two days after complying with the statutory formalities viz. submission of performance security and signing of contract as per LoA.
On the financial front, MEP’s revenue has remained flat at Rs 447 crore in Q2F17 as compared to same period in the previous financial year. The company’s EBITDA has declined by 8.51 per cent to Rs 335 crore in Q2FY17 on a yearly basis. It has posted net profit of Rs 62.42 crore in Q2FY17 against a net loss of Rs 11.23 crore in Q2FY16.
The share price of MEP has increased by 7.14 per cent on bourses in early trades; and is trading at Rs 37.75 on an intraday basis.
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