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Dolat Capital Report
PNC Infratech Ltd. reported results in line with estimates.
The company posted 10.7%/44.8%/29.4% YoY de-growth in revenue/Ebitda/adjusted profit after tax to Rs 10.5 billion/Rs 1.4 billion/Rs 693 million in Q2 FY21.
The company is currently operating with 90% labour and expects 100% post Diwali.
We broadly maintain our estimates for FY21E/ FY22E factoring H1 FY21 results and introduce FY23E estimates.
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