NCC's March quarter profit up y-o-y by 25%

16 May 2024 , 03:36 PM

NCC Ltd reported a 25% year-on-year increase in consolidated net profit for the March quarter, reaching ₹239.2 Crore, driven by enhanced execution. Revenue surged by 31% to ₹6,484.9 Crore, attributed to record order wins in 2022-23, as stated in an exchange filing on May 15.

The company witnessed its highest-ever order inflow of about ₹26,000 Crore in 2022-23 due to increased government outlay under the National Infrastructure Pipeline (NIP).

Ending 2022-23 with an order book of ₹50,244 Crore, NCC experienced further growth, reaching ₹57,536 Crore by the end of 2023-24.

The board approved a dividend payout of ₹2.2 per share for 2023-24. NCC secured orders totaling ₹27,283 Crore in 2023-24, maintaining its winning streak in the March quarter. Operating margins declined to 8.5% from 9.4%, down 90 basis points from the previous year.

Over 80% of NCC's order book comprises government-funded projects, with the remainder from the private sector. NCC Ltd engages in various infrastructure projects, including industrial and commercial buildings, roads, bridges, housing, power transmission, and hydrothermal power projects.

Notable projects include Advance Metering Infrastructure (AMI) in Maharashtra, wastewater treatment plants in Malad, and a twin tunnel from Goregaon to Khindipada.

Consolidated net debt rose to ₹428 Crore as of March 31, 2024, compared to ₹182 Crore as of March 31, 2023. At the time of writing, the stocks of NCC Limited were trading at ₹272.80 which is a 8.51% hike than the previous close. 

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