Ion Exchange shares rise after securing Rs 1.68 billion contract
12 Sep 2024
1 Min Read
CW Team
Ion Exchange's share price surged by up to 3% on September 9, reaching an intraday high of Rs 685.20 on the BSE. The rise followed the company's announcement that it had secured a work contract worth Rs 1.68 billion from Italy-based Technimont SpA. The contract is part of the Hail & Ghasha Development Project for Abu Dhabi National Oil Company in the UAE, with a completion timeline of 61 weeks from the award date, according to an exchange filing.
In Q1 FY2024-25, Ion Exchange reported a year-on-year revenue increase of 18.67%, totalling Rs 5.79 billion. However, the company saw a 27.5% drop in revenue compared to the previous quarter. Net profit rose by 35.14% year-on-year to Rs 449.6 billion, although it decreased by 38.23% from the previous quarter.
With a market capitalisation of Rs 99.10 billion, Ion Exchange is trading at a price-to-earnings ratio of 46.43 times, with earnings per share at Rs 14.33. At 10:16 AM, its stock was up 1.59%, trading at Rs 433.50, while the BSE Sensex was down by 0.06%.
Ion Exchange is a leader in water treatment solutions, offering a broad range of technologies for water and wastewater management across industries, homes, and communities. Its products include water process systems, wastewater recycling plants, and various chemical treatments.
(business standard)
Ion Exchange's share price surged by up to 3% on September 9, reaching an intraday high of Rs 685.20 on the BSE. The rise followed the company's announcement that it had secured a work contract worth Rs 1.68 billion from Italy-based Technimont SpA. The contract is part of the Hail & Ghasha Development Project for Abu Dhabi National Oil Company in the UAE, with a completion timeline of 61 weeks from the award date, according to an exchange filing.
In Q1 FY2024-25, Ion Exchange reported a year-on-year revenue increase of 18.67%, totalling Rs 5.79 billion. However, the company saw a 27.5% drop in revenue compared to the previous quarter. Net profit rose by 35.14% year-on-year to Rs 449.6 billion, although it decreased by 38.23% from the previous quarter.
With a market capitalisation of Rs 99.10 billion, Ion Exchange is trading at a price-to-earnings ratio of 46.43 times, with earnings per share at Rs 14.33. At 10:16 AM, its stock was up 1.59%, trading at Rs 433.50, while the BSE Sensex was down by 0.06%.
Ion Exchange is a leader in water treatment solutions, offering a broad range of technologies for water and wastewater management across industries, homes, and communities. Its products include water process systems, wastewater recycling plants, and various chemical treatments.
(business standard)
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