PSP Projects Q3 Review - Order Inflows, Pick Up In Execution A Key: Dolat Capital
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Dolat Capital Report
PSP Projects Ltd. reported results in line with estimates. The company posted 7.8%/ 13.2%/ 16.6% YoY de-growth in revenue/ Ebitda/ adjusted profit after tax to Rs 3.9 billion/ Rs 469 million/ Rs 307 million in Q3 FY21.
SBD revenue - Rs 1.35 billion versus Rs 1.9 billion (Q3 FY20). We broadly maintain our FY21E/ FY22E/ FY23E estimates.
Labour strength is back at pre Covid-19 levels of 100% which stood at 95% in (Q2 FY21) versus 75-80% (Q1 FY21) versus 20-25% in April 2020.
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