Advait Infratech Limited Announces Outstanding Q3 and 9-Month Financial Results

Advait Infratech Limited, a leading infrastructure company in India, is pleased to announce its financial results for the third quarter and the first nine months ending December 31, 2023, which exhibit remarkable growth and financial stability.

Strong Q3 Performance

For the third quarter of the financial year 2023-2024, Advait Infratech Limited has reported a significant increase in its financial metrics. The company’s sales reached INR 726.1 million, a substantial increase from INR 257.29 million in the same quarter last year. This impressive growth reflects the company’s robust sales strategy and the increasing demand for its infrastructure solutions.

Furthermore, the company’s revenue escalated to INR 734.17 million, up from INR 257.24 million in the prior-year period, demonstrating the effectiveness of its business model and operational efficiency. Net income saw a notable rise to INR 77.01 million, compared to INR 27.41 million in the same quarter of the previous year, underlining the company’s profitability and financial health.

Earnings per share (EPS) also witnessed a substantial increase. The basic EPS from continuing operations was reported at INR 7.55, up from INR 5.37 a year ago. Similarly, the diluted EPS from continuing operations remained consistent at INR 7.55, compared to INR 5.37 in the corresponding quarter of the previous year.

Nine-Month Financial Highlights

The nine-month financial report further underscores the company’s successful trajectory. Sales soared to INR 1,490.2 million, markedly higher than the INR 634.49 million reported in the same period last year. This growth indicates a sustained demand for Advait Infratech’s products and services in the market.

Revenue for the nine months stood at INR 1,503.6 million, significantly higher than the INR 639.8 million recorded in the previous year. The company’s net income also showed remarkable growth, reaching INR 152.05 million, a substantial improvement from INR 61.25 million in the comparable period last year.

The basic and diluted earnings per share from continuing operations for the nine-month period were INR 14.91, indicating a steady increase from INR 12.01 a year ago. This consistent growth in EPS reflects the company’s commitment to delivering value to its shareholders.

New Registered Office

In another significant development, Advait Infratech Limited announced the relocation of its registered office within Ahmedabad. The Board of Directors, in its meeting held on February 12, 2024, approved the shifting of the registered office from A/801-A/803, Sankalp Iconic Tower, Nr. Iscon Cross Roads Bopal – Ambli Road, SG Highway, Ahmedabad, Gujarat 380054 to 1st Floor, KIFS Corporate House, Iscon Ambli Road, Beside Hotel Planet Landmark, Near Ashok Vatika, Ambli, Ahmedabad — 380058, effective from February 15, 2024.

The new office, located in a prominent business area, will provide a more spacious and modern environment for the company’s operations, reflecting its growth and futuristic vision.