1. PNC Infratech surges on posting over 2-fold rise in Q1 net profit

PNC Infratech surges on posting over 2-fold rise in Q1 net profit

PNC Infratech shares soared as much as 11.44 per cent in the early trade on Thursday after the company reported nearly 145 per cent rise in consolidated net profit figures at Rs 54.20 crore for the quarter ended June 30, 2016

By: | New Delhi | Updated: August 25, 2016 5:16 PM
bse sensex nse nifty PNC Infratech shares soared as much as 11.44 per cent in the early trade on Thursday after the company reported nearly 145 per cent rise in consolidated net profit figures at Rs 54.20 crore for the quarter ended June 30, 2016 (Photo: Reuters)

PNC Infratech shares soared as much as 11.44 per cent in the early trade on Thursday after the company reported nearly 145 per cent rise in consolidated net profit figures at Rs 54.20 crore for the quarter ended June 30, 2016 against Rs 22.20 crore in the corresponding quarter a year ago. Consolidated total income from operations of PNC Infratech slid by 6.23 per cent at Rs 635.50 crore during the quarter under review. It had registered a consolidated total income of Rs 677.70 crore in the same quarter last year. Consolidated EBITDA for the quarter stood at Rs 165.8 crores, up 25.42 per cent, against Rs 132.2 crores in the same quarter a year ago.

At 9.37 am, shares of PNC Infratech were trading 3.51 per cent up at Rs 125.30. The scrip opened the day at Rs 129.90 and has touched a high and low of Rs 134.90 and Rs 124.80, respectively, in trade so far. Later, the scrip closed 0.70 per cent up at Rs 121.90.

Consolidated total expenses declined to Rs 610.81 crore during the quarter under review against Rs 650.31 crore in the corresponding quarter a year ago.

On a standalone basis, PNC Infratech reported net profit of Rs 64 crore, up 145.58 per cent, against Rs 26.06 crore in the same quater last year. Revenue from operations of the company increased by 18.56 per cent year-on-year to Rs 515 crore from Rs 434.39 crore during the same quarter. The company is is an infrastructure, construction, development and management company.

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