NCC net slips as GST affects billing process
THE HANS INDIA |
Nov 14,2017 , 10:26 PM IST
Hyderabad: NCC Limited (NCC) on Tuesday announced its financial results for the second quarter of the current fiscal. The company has reported a total income of Rs1,342.36 crore excluding GST and Rs1,470.03 crore including GST for the quarter as against Rs1,972.95 crore (including taxes) in the previous corresponding quarter.
The Company has reported an EBIDTA of Rs124.35 crore and a net profit of Rs20.30 crore as against Rs171.06 crore and Rs51.18 crore reported respectively in the corresponding quarter of the previous year, according to a release from the company. The company has posted an EPS of Rs0.37 for the quarter as against Rs0.92 in the previous corresponding quarter.
- Order book swells by over 50% in 7 mths of FY18 to Rs28,109 cr
Company’s MD A Ranga Raju said: “The major reason for the steep decline of turnover in the second quarter is due to GST issues. The supplies from vendors were affected due to GST implementation, besides the delay in billing process and payments by clients due to lack of clarity.