PSP Projects slumps after Q2 PAT slips 41% YoY

PSP Projects tumbled 7.78% to Rs 590.10 after consolidated net profit delcined 40.8% to Rs 21.54 crore on 7.8% fall in revenue from operations to Rs 359.98 crore in Q2 FY23 over Q2 FY22.

Profit before tax stood at Rs 29.65 crore in Q2 FY23, down 38.6% from Rs 48.26 crore in Q2 FY22. Total expenses slipped 2.87% YoY to Rs 336.62 crore in the quarter ended 30 September 2022.

Cost of materials consumed stood at Rs 116.85 crore (down 6.92% YoY), Construction Expenses was at Rs 210.53 crore (up 13.5%), employee benefits expenses was at Rs 22.49 crore (up 44.95% YoY) and finance cost stood at Rs 70.49 crore (up 85.25% YoY) during the period under review.

 

PSP Projects is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in the country.

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