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Skipper Net slips 78pc over execution challenges

Press Trust of India  |  Kolkata 

Structural engineering major Monday reported a 78 per cent decline in net profit to Rs 6.4 crore during the third quarter ended December 2018 over execution challenges.

The net profit during the corresponding period of the previous fiscal was at Rs 29.2 crore.

The company said its net revenue was also down to Rs 434.82 crore during the quarter over the corresponding period revenue of Rs 566.42 crore.

"Our results for Q3 201819, were indicative of the general execution challenges in the domestic T&D industry and also some liquidity challenges being faced in the infrastructure sector," Skipper said.

The company, however, secured new orders worth Rs 506 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 11 2019. 18:30 IST