NCC Q3 net profit up 72% at Rs 1 bn on increased gross profit margin

Reports EPS of Rs 1.81 for the third quarter as compared to Rs 1.05 per share in the year-ago period

Hyderabad-based construction company NCC Limited has reported a 72 percent jump in standalone net profit at Rs 1 billion for the quarter ended December 2017 on the back of increased gross profit margin.

The company revenues, however, declined 3.5 percent to Rs 18.79 billion during the quarter under review as compared with Rs 19.43 billion in the corresponding quarter previous year.

It has reported an EPS of Rs 1.81 for the third quarter as compared to Rs 1.05 per share in the year-ago period.

NCC managing director A Ranga Raju said that the company has been planning to enhance business in its core sector, which is the construction business.

To meet the long-term working capital requirements for the proposed increased business in the construction segment, the company has raised an equity of Rs 5.5 billion through QIP issue last month.

During the nine-month period of the current fiscal, the company has secured orders of Rs 216.14 billion in various divisions and the order book now stands at Rs 316.27 billion, according to Raju.