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ICICI Direct Report
KNR Constructions Ltd. reported a better-than-expected performance during Q2 FY21 with superior execution and margins leading to bottomline beat.
Topline was up 10.1% YoY to Rs 601.2 crore.
Operating profit remained at an elevated level at 20.6% (down 239 basis points YoY but up 80 basis points on adjusted basis) backed by higher proportion of revenues from hybrid annuity model and high margin irrigation projects.
Reported profit after tax fell 28.9% YoY to Rs 49.8 crore.
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