India's Afcons Infrastructure falls on quarterly profit decline

Afcons Infrastructure

26/05/2025 05:35

** Shares of construction company Afcons Infrastructure AFCN.NS fall 3.3% to 430 rupees

** Co posts 23.44% Y/Y decline in Q4 consol PAT; rev from ops falls 11.3%

** Higher employee-related spending and other expenses affected profit, Nomura says

** Investec says that the revenue decline is partly due to delays in imports for the high-speed rail project and execution setbacks caused by unrest in Bangladesh

** Stock rated "strong buy" on avg; median PT is 563 rupees, per data compiled by LSEG

** Stock down 20% YTD

($1 = 85.0430 Indian rupees)

(Reporting by Rudra Pratap Singh in Bengaluru)

((rudrapratap.singh@thomsonreuters.com))