NCC Receives Order Worth Rs 218.82 Crore
Shares of NCC closed 2.07% lower at Rs 175 apiece on the National Stock Exchange, compared to a 1.86% fall in the benchmark Nifty 50.
(Source: Company website)
NCC Ltd. bagged an order worth Rs 218.82 crore from the state government for a project related to the transport division. The company, however, did not disclose the name of the state.
The company received the order within the normal course of the business, according to an exchange filing on Friday. The project is supposed to be completed within a timeframe of 36 months.
The construction major's net profit fell to Rs 193 crore, representing a 12.4% dip for the third quarter of the current fiscal as compared to Rs 221 crore for the same period last year.
The company recorded a rise in its revenue to Rs 5,345 crore, denoting a 1.6% rise for the quarter under review as against Rs 5,260 crore for the year-ago period.
Its earnings before interest, tax, depreciation, and amortisation fell by 12.8% to Rs 441 crore for the quarter ended December from Rs 505 crore for the same period in the corresponding year.
Margins narrowed at 8.2% for the October-December quarter from 9.6% for the same period last year.
Shares of NCC closed 2.07% lower at Rs 175 apiece on the National Stock Exchange, compared to a 1.86% fall in the benchmark Nifty 50. The stock has fallen by 29.52% in the last 12 months.
Nine out of the 14 analysts tracking the company have a 'buy' rating on the stock, two recommend 'hold,' and three suggest 'sell,' according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 54.8%.
