Companies

NCC posts lower net profit of ₹58 crore in Q2

Our Bureau Hyderabad | Updated on November 10, 2020

In the second quarter of the current year, NCC Limited secured new work orders aggregating to ₹2,962.21 crore

NCC Limited (NCC) has posted a lower profit of ₹58.41 crore for the second quarter ended September 30, 2020 as against a profit of ₹80.04 crore for the corresponding quarter of last fiscal on a standalone basis.

The Covid lockdown phase business has been affected resulting in lower revenues and profit.

The Hyderabad-based construction company reported a total income of ₹1,578.14 crore (including other income) for the second quarter as against ₹1,802.32 crore in the corresponding quarter of the previous year.

For the six months ended September 2020, the company posted income of ₹2,789.55 crore (including other income) as against ₹4,015.02 crore in the corresponding six months. The company posted a profit of ₹75.34 crore as against ₹161.36 crore in the corresponding period last year.

On consolidated basis, the company reported revenues of ₹1,743.59 crore for the second quarter (₹1,998.25 crore) and logged in a profit of ₹64.60 crore (₹82.18 crore).

The operating results of this quarter and six months period ended September 30, 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, said AAV Ranga Raju, Managing Director of NCC.

In the second quarter of the current year, the company secured new work orders aggregating to ₹2,962.21 crore and the order book stood at ₹29,361.66 crore as of September 2020.

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Published on November 10, 2020
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