Indian construction firm NCC Ltd on August 10 posted a 33.9 percent jump in its consolidated net profit to Rs 173.54 crore for the quarter ended June 30, 2023, on the back of higher execution during the quarter.
Revenue from operations jumped 31.9 percent to Rs 4,380.39 crore during the quarter as the company reaped the benefits of its record order wins witnessed in 2022-23, according to an exchange filing by NCC Ltd.
NCC received its best-ever order inflows of about Rs 26,000 crore in 2022-23 on the back of higher outlay by the government under the National Infrastructure Pipeline (NIP).
NCC had ended 2022-23 with an order book of Rs 50,244 crore, benefits of which will be seen in the company's topline for the remainder of 2023-24.
NCC continued its streak of winning orders in the Q1 2023-24 as the company bagged orders worth Rs 8,154 crore taking its total order book to Rs 54,110 crore as of June 30, 2023.
In July, NCC also won projects worth Rs 1,919 crore, with its Water Division acquiring a major chunk of orders worth Rs 1,635 crore while that received by its building division amounted to Rs 284 crore.
More than 80 percent of NCC's order book is from government-funded projects (both Centre and state) while the rest is from the private sector.
During the quarter ended June 30, 2023, NCC reported Earnings Before Interest, Taxes, Depreciation, and Amortization of around Rs 409.21 crore and EBITDA margin of around 9.3 percent.
NCC Ltd is primarily engaged in construction of the industrial and commercial buildings, roads, bridges and flyovers. The infrastructure company also takes up housing, power transmission, irrigation and hydrothermal power projects. Outside India, the company has presence in Oman and the United Arab Emirates.
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