PNC Infratech Q2 net jumps over two-fold to Rs 35 cr

Infrastructure firm PNC Infratech Wednesday said its standalone net profit jumped over two-folds to Rs 35.11 crore during the quarter ended September 30, helped by higher income.

The company had clocked Rs 16.65 crore net profit during the corresponding period a year ago, it said in a filing to the BSE.

Its total income rose over two-folds to Rs 564.72 crore during July-September, from Rs 273.77 crore in the year-ago period.

The firm's expenses during the quarter also increased to Rs 519.96 crore, compared with 254.99 crore a year ago.

PNC Infratech Managing Director Chakresh Jain had earlier said that the company had received about Rs 60 crore as bonus from the Uttar Pradesh government for early completion of a section of the Agra-Lucknow expressway, he said.

Another bonus of Rs 34 crore was received from the National Highways Authority of India (NHAI) for early completion of two-laning work of the 166.44 km Raebareli-Jaunpur section of NH-231.

Having presence in over 10 states of India, PNC Infratech provides end-to-end infrastructure implementation solutions that include engineering, procurement and construction (EPC) services on a fixed-sum turnkey basis as well as on item rate basis.