NCC Q2 net loss at Rs 3.16 crore

The company's turnover stood at Rs 2,571.57 crore, a growth of 50.66%

Hyderabad-based engineering and construction company, NCC Limited, has reported a net loss of Rs 3.16 crore for the second quarter ended September 2014, as compared with a net loss of Rs 168.08 crore incurred in the corresponding quarter of the previous year.

The company's turnover stood at Rs 2,571.57 crore during the quarter under consideration, as against Rs 1,706.79 crore achieved in the year-ago period, reflecting a growth of 50.66%.

In the current year, NCC Limited has so far secured orders aggregating Rs 3,574 crore and the order book stood at Rs 20,395 crore as at the end of the quarter under review.

In a press release on Thursday, NCC said that the rights offer of close to 290 million shares for an aggregate amount of Rs 598.70 crore to the existing shareholders was fully subscribed and the board had allotted the shares on October 30, 2014. The company has utilised the proceeds mainly for repayment of debt, it added.

NCC Limited's scrip ended the trade at Rs 57.30 on the BSE on Thursday, up 1.33%, over the previous close of Rs 56.55 a share.