PNC Infratech posted a 46% drop in consolidated net profit to Rs 95 crore on 28% decline in net sales to Rs 1092 crore in Q1 June 2020 over Q1 June 2019.
Operations and financials of the company for the quarter were impacted due to the lockdown and related restrictions imposed to contain the intensity and spread of COVID-19.Consolidated profit before tax declined 46% to Rs 125.88 crore in Q1 June 2020 over Q1 June 2019. Total tax expense fell 47% to Rs 31.09 crore in during the period under review.
Consolidated EBITDA tumbled 18% to Rs 287 crore in Q1 June 2020 over Q1 June 2019. EBITDA margin improved to 26.25% in Q1 June 2020 from 23% in Q1 June 2019. The result was announced after market hours yesterday, 27 August 2020.
Share of PNC Infratech were up 1.48% at Rs 171.90. The company is engaged in infrastructure development through the construction of highways including BOT (built, operate and transfer projects), airport runways, bridges, flyovers and power transmission projects among others.
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