Indian construction firm NCC posts 40% jump in Q3 profit

KNR Constructions

08/02/2024 10:13

BENGALURU, Feb 8 (Reuters) - Indian construction firm NCC  NCCL.NS  reported a rise in third-quarter profit on Thursday as
project execution was robust in a seasonally low quarter.
    The company's consolidated net profit after tax rose nearly 40% year-on-year to 2.21 billion rupees ($26.63 million) in the
three months ended Dec. 31.
    For further results highlights, click  urn:newsml:reuters.com:*:nFWN3ET0XQ
        
  
        KEY CONTEXT
    Although order inflow has been slightly weak for NCC, robust order book and diversified capabilities across various
infrastructure verticals aided the company in sustaining its strong execution in the medium term, brokerage Centrum said.
    Bigger peer Larsen and Toubro  LART.NS  reported a 15% rise in quarterly profit and said it does not expect orders to be robust
over the next two quarters due to the general elections in India, which are due by May. 
    
    PEER COMPARISON  
    
                                      Valuation (next 12      Estimates (next 12            Analysts' sentiment           
                                            months)                months)                                                
                           RIC      PE      EV/EBIT  Price/  Revenue     Profit    Mean       # of       Stock to price   Div yield
                                            DA       Sales   growth%     growth%   rating *   analysts   target **        (%)
 NCC Ltd                                                                                                                
 KNR Constructions Ltd                                                                                                  
 PNC Infratech Ltd                                                                                                      
 HG Infra Engineering Ltd                                                        BUY                                    
    
 * Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
 ** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
    
    OCT-DEC STOCK PERFORMANCE
  

    -- All data from LSEG
    -- $1 = 82.9750 rupees


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NCC Q3 Stock    https://tmsnrt.rs/49o94G3
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 (Reporting by Anuran Sadhu in Bengaluru; Editing by Sohini Goswami)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))