NCC Ltd has posted a net profit of Rs 22.12 crore for the second quarter ended September 30, 2014 on a standalone basis against a net profit of Rs 5.17 crore registered in the same period last year.
The Hyderabad-based construction and infrastructure company achieved a turnover of Rs 2,284.43 crore, including other income, against Rs 1,371.57 crore in the corresponding quarter last year.
For the six months ended September 30, 2014, on a standalone basis, the company earned a net profit of Rs 19.09 crore and a turnover of Rs 3,819.67 crore against a net profit of Rs 15.70 crore and a turnover of Rs 2,779.33 crore in the same period last year.
On a consolidated basis, NCC has posted a loss of Rs 3.16 crore for the second quarter this year against a loss of Rs 10.19 crore in the same period last year.
Revenues during the period stood at Rs 2,571.57 crore (Rs 1,706.79 crore).
During the first half, NCC posted a loss of Rs 23.68 crore with revenues of Rs 4,400.11 crore against a loss of Rs 4.39 crore and revenues of Rs 3,345.67 crore.
Rights issue
A Ranga Raju, Managing Director, NCC, in a statement said that the rights offer of Rs 29.9 crore shares for an aggregate amount of Rs 598.70 crore for the existing shareholders was fully subscribed and the board of directors had allotted the shares on September 30, 2014. The company has utilised the proceeds mainly for repayment of debt.
During the current year, the company has so far secured orders aggregating Rs 3,574 crore taking the order book to Rs 20,395 crore as of September end.
NCC shares ended at Rs 57.30, up 1.33 per cent on the BSE.