ICICI Direct: NCC Posts Decent Q2 Performance Amid Challenging Times
A crane operates on a residential building under construction in Noida, Uttar Pradesh, India. (Photographer: Anindito Mukherjee/Bloomberg)

ICICI Direct: NCC Posts Decent Q2 Performance Amid Challenging Times

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

ICICI Direct NCC Q2FY21 Result Update.pdf

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