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ICICI Direct Report
One-off impairment impacted PNC Infratech Ltd.'s reported margins. Standalone revenue was up 16.6% YoY to Rs 1,780.6 crore. Its revenue includes Rs 82.7 crore bonus received for early completion of the project.
Reported Ebitda at Rs 224.7 crore, was down 3.3% YoY with margin at 11.7%, down 241 basis points YoY.
PNC Infratech has booked Rs 90.3 crore towards impairment of Ghaziabad Aligarh Expressway Pvt Ltd. (associate company).
Adjusted for one-off (bonus and impairment), core margins were at 13%. Profit after tax was at Rs 138.2 crore, up 6.8% YoY. Considering one-time impairment cost, profit after tax improved 59% YoY to Rs 206 crore.
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