Infrastructure firm NCC Ltd reported a 25 percent on-year rise in consolidated net profit at Rs 239.2 crore for the March quarter, driven by higher execution.
Revenue jumped 31 percent to Rs 6,484.9 crore, as the company reaped the benefits of its record order wins in 2022-23, NCC Ltd said in an exchange filing on May 15.
NCC received its highest ever order inflow of about Rs 26,000 crore in 2022-23 on higher outlay by the government under the National Infrastructure Pipeline (NIP).
It ended 2022-23 with an order book of Rs 50,244 crore, which gave the company’s top line a boost in 2023-24. NCC order book grew to Rs 57,536 crore at the end of 2023-24.
The board of NCC also approved the dividend payout of Rs 2.2 per share for 2023-24.
NCC continued its winning streak in the March quarter, as it bagged orders taking the total orders to Rs 27,283 crore secured in 2023-24.
NCC's operating margins fell to 8.5 percent from 9.4 percent, down 90 basis points from the year-ago period.
One basis points is one-hundredth of a percentage point.
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.
NCC Ltd builds industrial and commercial buildings, roads, bridges and flyovers. The infrastructure company also takes up housing, power transmission, irrigation and hydrothermal power projects. The company also has a presence in Oman and the United Arab Emirates.
Some of NCC's biggest orders include the Rs 5,760 crore project to design, supply, install & commission Advance Metering Infrastructure (AMI) in Maharashtra, the Rs 3,830 crore project to construct wastewater treatment plants in Malad and the Rs 3,210 crore project to construct a twin tunnel from Goregaon to Khindipada.
NCC's consolidated net debt also rose to Rs 428 crore as of March 31, 2024, from Rs 182 crore as of March 31, 2023.
The NCC stock ended the day at Rs 251.05, down 0.9 percent from the previous close.
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