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NCC reports 15.68 cr net profit in Q1FY21
NCC reports 15.68 cr net profit in Q1FY21
City-based infrastructure major NCC Ltd on Wednesday posted Rs 15.68 crore net profit for the first quarter ended on June 30 this year, down from Rs 74.70 crore in the same period a year ago
Hyderabad: City-based infrastructure major NCC Ltd on Wednesday posted Rs 15.68 crore net profit for the first quarter ended on June 30 this year, down from Rs 74.70 crore in the same period a year ago. The company's Ebidta margins were also down to Rs 124.82 crore against Rs 279.36 crore a year ago. It has reported a turnover of Rs 1,328.71 crore during the period under review as against Rs 2,371.51 crore in the corresponding quarter of the previous year.
On standalone basis, the infra major achieved a turnover of Rs 12,11.41 crore (including other income) in the first quarter as against Rs 2,212.70 crore in the corresponding quarter of the previous year, a decrease of 45 per cent. The company has reported Ebidta of Rs 115.63 crore and a net profit of Rs 16.93 crore as against Rs 266.59 crore and Rs 81.32 crore reported respectively in the corresponding quarter of the previous year.
"The operating results of this quarter are not comparable with the corresponding quarter of the previous year, since Covid-19 has impacted the operations significantly. The lockdown and also the supply & manpower disruptions impacted the construction industry significantly and our company was also affected," NCC said in a statement.
For our company, the impact on the top line has been about 45 per cent. The gross margins of the company have not been affected much but the EBIDTA & PAT margins are significantly affected due to non-absorption of fixed cost with lower volume of turnover. The situation is expected to improve in the remaining quarters, it added.
