 "PNC Infratech rallies as Q1 profit more than doubles")
PNC Infratech has rallied 12% to Rs 135, also its 52-week high on the BSE in early morning trade, after the company's consolidated net profit more than doubles to Rs 54.2 crore for the quarter ended June 30, 2016 (Q1FY17), on the back of lower finance cost and lower tax expense.
The company engaged in infrastructure construction, development and management business had profit of Rs 22.2 crore in the corresponding previous quarter.
Total income from operations of the company during the reported quarter was at Rs 636 crore as against Rs 678 crore in the corresponding quarter of FY 2015-16, PNC Infratech said in statement.
The ebitda (earnings before interest, taxes, depreciation and amortisation) margin improved 660 basis points to 26.1% from 19.5% and net profit margin improved from 3.2% to 8.5% year-on-year, it added.
At 09:21 am, the stock was up 5% at Rs 127 on the BSE, as compared to 0.17% rise in the S&P BSE Sensex. A combined 471,980 shares changed hands on the counter on the NSE and BSE so far.
The company engaged in infrastructure construction, development and management business had profit of Rs 22.2 crore in the corresponding previous quarter.
Total income from operations of the company during the reported quarter was at Rs 636 crore as against Rs 678 crore in the corresponding quarter of FY 2015-16, PNC Infratech said in statement.
The ebitda (earnings before interest, taxes, depreciation and amortisation) margin improved 660 basis points to 26.1% from 19.5% and net profit margin improved from 3.2% to 8.5% year-on-year, it added.
At 09:21 am, the stock was up 5% at Rs 127 on the BSE, as compared to 0.17% rise in the S&P BSE Sensex. A combined 471,980 shares changed hands on the counter on the NSE and BSE so far.
