ICICI Direct: NCC Posts Decent Q2 Performance Amid Challenging Times
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ICICI Direct Report
NCC Ltd. reported a decent set of Q2 FY21 numbers.
Topline declined 11% YoY to Rs 1,541 crore, largely impacted by slower execution amid disruptions caused by Covid-19 pandemic and heavy monsoon.
However, various cost measures initiatives drove operating margin performance (to 13.6%, up 16 basis points YoY, 381 basis points QoQ.
Reported profit after tax of Rs 58.4 crore (down 27% YoY) was better than our estimate led by operating profit beat.
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