NCC zooms after posting over five-fold increase in net profit

NCC has zoomed over 7.5% at Rs 81.50 on the NSE after posting over five-fold increase in conso net profit at Rs 25.57 cr

Construction company NCC has zoomed over 7.5% at Rs 81.50 on the NSE after reporting over five-fold increase in consolidated net profit at Rs 25.57 crore for the quarter ended December, 2014 on the back of higher revenue growth as against Rs 4.76 crore in the same period last year.

Total income for the company grew 40 per cent to Rs 2,669.65 crore in the quarter under review as compared with Rs 1,903.18 crore in the year ago period.

In the current year, NCC has secured orders worth around Rs 6,465 crore in the first nine-months and the total order book stood at Rs 20,755 crore as of December, 2014, it said.

The stock opened at Rs 78 and touched a high of Rs 82 on the NSE. Nearly 11 million shares changed hands on the counter till 1045 hours on the NSE and BSE.