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IL&FS Transportation networks - Q1FY14 Result Update - Kotak
Posted On : 2013-08-11 23:00:53( TIMEZONE : IST )
IL&FS Transportation networks Ltd (ITNL) revenues for the quarter were impacted by decline in construction revenues but higher fee income led to sharp improvement in operating margins. Toll revenues reported a jump while construction work is impacted by early onset of monsoons during the quarter.
Based on current order book and portfolio of projects, we expect construction revenues to remain strong while completion of work on under construction projects is expected to increase the toll revenues from FY14 onwards. We maintain BUY on the stock.
