ICICI Direct: PNC Infratech’s Execution To Pick Up Pace  
A crane stands between steel construction beams on a commercial and residential construction site. (Photographer: Simon Dawson/Bloomberg)

ICICI Direct: PNC Infratech’s Execution To Pick Up Pace  

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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

PNC Infratech Ltd. reported a better-than-expected performance in Q2 FY21.

Topline, adjusted for one-off Rs 109.5 crore as arbitration claim for Hapur-Moradabad project in the base quarter, de-grew merely by 1.6% YoY to Rs 1,053.5 crore.

The performance was resilient, given the heavy monsoon period and disruptions caused by Covid-19 pandemic.

Operating profit came in at Rs 142.1 crore, down approximately 44.8% YoY. Here also, adjusted for the one-off element in the base quarter, the operating profit decline was merely approximately 3.8% YoY.

Click on the attachment to read the full report:

ICICI Direct PNC Infratech Q2FY21 Result Update.pdf

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