NCC Q2 profit dips 21.4% at Rs 64.6 crore

The company reported a total income of Rs 1,743.59 crore (including other income) for the second quarter as against Rs 1,998.25 crore in the corresponding quarter of the previous year.

Hyderabad: Hyderabad-based NCC Ltd reported a 21.14 per cent dip in net profit for the second quarter ended September 2020 at Rs 64.6 crore against Rs 82.18 crore in the corresponding quarter of the previous year, on a consolidated basis.

The company reported a total income of Rs 1,743.59 crore (including other income) for the second quarter as against Rs 1,998.25 crore in the corresponding quarter of the previous year. The company’s EBITDA too reduced to Rs 232.42 crore as against Rs 258.13 crore in the corresponding quarter of the previous year.

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For the six months period of the fiscal, the company reported a total income of Rs 3,072.30 crore (including other income) as against Rs 4,369.76 crore in the corresponding six months of the previous year. The net profit declined to Rs 80.28 crore for the half year ended September, as against Rs 156.88 crore.

NCC said in a statement, the operating results of this quarter and six months period ended 30th September, 2020 are not comparable with the corresponding periods of the previous year, since the operations continued to be impacted by measures to contain Covid-19 pandemic. The execution of projects gathered momentum, though recovery has been gradual and partial.

In the second quarter of the current year, the company has secured orders aggregating to Rs 2,962.21 crore and the total order book stood at Rs 29,361.66 crore as at 30th September, 2020.

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