NCC drops after weak Q2 earnings

NCC fell 2.32% to Rs 56.75 after consolidated net profit slumped 35.71% to Rs 78.78 crore on 40.22% decline in net sales to Rs 1,938.28 crore in Q2 September 2019 over Q2 September 2018.

The result was announced during trading hours today, 5 November 2019.

Consolidated EBITDA fell 35.60% to Rs 258.13 crore in Q2 September 2019 as against Rs 400.86 in Q2 September 2018.

During this quarter, the company has bagged orders worth Rs 1,518 crore and the order book stood Rs 33,173 crore as of 30 September 2019. During October 2019, the firm secured orders aggregating to Rs 973.22 crore.

Meanwhile, the S&P BSE Sensex was down 91 points or 0.23% to 40,211.27.

On the BSE, 20.06 lakh shares were traded in the counter so far compared with average daily volumes of 24.48 lakh shares in the past two weeks. The stock hit an intraday high of Rs 58.80 and an intraday low of Rs 55.35 so far during the day.

The stock hit a 52-week high of Rs 119.15 on 27 May 2019. The stock hit a 52-week low of Rs 46.20 on 7 October 2019.

NCC is involved in the construction of industrial and commercial buildings, roads, bridges and flyovers, water supply and environment projects, housing, power transmission lines, irrigation and hydrothermal power projects and real estate development.

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