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Last Updated : Nov 15, 2019 12:51 PM IST | Source: Moneycontrol.com

ITD Cementation share price down 3% after Q2 profit falls 20%

The company got orders worth Rs 4,000 crore in H1 and Rs 2,000 crore post-Q2, Chief Financial Officer Prasad Patwardhan has said.

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ITD Cementation share prices were down more than 3 percent intraday on November 15.

The company reported a 20.5 percent drop in consolidated net profit when compared to the same period last year.

Sales rose 14.3 percent to Rs 709.12 crore in the September quarter against Rs 620.38 crore in the year-ago period.

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In an interview to CNBC-TV18, ITD Cementation's Chief Financial Officer Prasad Patwardhan said the company had secured orders worth Rs 4,000 crore in H1 and received Rs 2,000 crore order inflow post Q2. Patwardhan  said execution had remains robust, adding that order book stood at Rs 11,000 crore as of September 2019.

The company's order book, included 30 percent each from marine and metro segments, while it would construct Pune and Trichy airport. ITD Cementation's orderbook stood at Rs 13,000 crore, he added.

ITD Cementation's receivables inched higher due to better execution and its consolidated net debt was Rs 470 crore. Kolkata project won’t impact margins significantly, while the metro project could impact cash flows in the near-term, Patwardhan said.

ITD Cementation India was quoting at Rs 52.35, down Rs 1.85, or 3.41 percent. It touched an intraday high of Rs 54 and an intraday low of Rs 52.35.

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First Published on Nov 15, 2019 12:51 pm
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