NCC Q2 net profit down 75% at Rs 11 cr

NCC (formerly known as Nagarjuna Construction) has reported less than expected numbers (on a standalone basis) in the quarter ended September FY12. Its standalone profit after tax fell 75% to Rs 11 crore in the second quarter of FY12 from Rs 46 crore in the corresponding quarter of last fiscal.

Total income declined 9% to Rs 1,090 crore from Rs 1,201 crore during the same period.

EBITDA dropped 16% to Rs 103 crore in the July-September quarter of FY12 versus Rs 123 crore in same quarter the previous year.

Operating profit margin (OPM) grew at 9.46% as against 10.27% year-on-year.

CNBC-TV18 poll saw net profit at Rs 27 crore and net sales at Rs 1,276 crore. It had expected EBITDA at Rs 126 crore and OPM at 9.88%.

Expenses fell 8% to Rs 1,007 crore from Rs 1,095 crore year-on-year. Depreciation was up by 20% to Rs 20 crore and interest cost has gone up by 89% to Rs 71 crore in the Q2FY12.

On consolidated basis, total income slipped 2% to Rs 1,473 crore and profit after tax dropped 54% to Rs 29 crore year-on-year.

However, EBITDA jumped 14% to Rs 211 crore and OPM improved to 14.32% versus 12.33% during the same period.

Expenses fell 3% to Rs 1,317 crore in the second quarter of FY12.