Construction firm NCC Ltd on February 8 posted a 40 percent rise in its consolidated net profit at Rs 220.65 crore for the quarter ended December 31, driven by higher execution during the quarter.
Revenue from operations jumped 34.5 percent to Rs 5,260.1 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 ended 2022-23 with an order book of Rs 50,244 crore, the 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 Q3 2023-24, as the company bagged orders worth Rs 796 crore taking its total order book to Rs 57,440 crore as of December 31, 2023.
NCC's operating margins fell slightly to 9.61 percent during the quarter that ended December 2023, from 9.63 percent, a basis points fall on year.
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 September 30, 2023, NCC reported Earnings Before Interest, Taxes, Depreciation, and Amortization margin of around 6.84 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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