MBL Infra reports FY2022 results

MBL Infra has reported on standalone basis net profit of Rs 1750 lakhs for the quarter ended 31.03.2022 vis-a-vis loss of Rs 5470 lakhs during the corresponding quarter ended 31.03.2021. The profit of the Company on standalone basis for FY 2021-22 was Rs 6359 lakhs in comparison to Rs 9334 lakhs for FY 2020-21. On consolidated basis there was a net loss of Rs 1366 lakhs for the quarter ended 31.03.2022 vis-a-vis loss of Rs 5808 lakhs during the corresponding quarter ended 31.03.2021 and profit of the Company for FY 2021-22 stood at Rs 13 lakhs in comparison to Rs 6337 lakhs (including exceptional item of Rs 945 lakhs).

"The operations of the Company are not normal due to non-implementation of the Resolution Plan by working capital banks post CIRP under IBC, 2016. The operational level of the Company is expected to increase substantially after documentation by the working capital banks. With the completion/handing over of several public interest projects since the approval of the Resolution Plan, the qualification/bidding capacity of the Company has enhanced and with the impetus of the government on infrastructure, there are lot of opportunities in the core competency area of the Company. We are perusing our receivables and have taken all steps including arbitration proceedings and have been successful in winning some of the arbitration awards. Liquidity is expected to increase substantially due to these efforts." said Mr D S Negi, CFO while addressing the officials of the Company.

Shares of MBL Infrastructures Limited was last trading in BSE at Rs. 20.25 as compared to the previous close of Rs. 19.30. The total number of shares traded during the day was 12842 in over 67 trades.

The stock hit an intraday high of Rs. 20.25 and intraday low of 19.05. The net turnover during the day was Rs. 258548.00.

Source : Equity Bulls

Keywords

MBLInfrastructures INE912H01013 Q4FY22 FY2022 ResultUpdate