NCC surges 9% on strong Q3 results

The stock rallied 9% to Rs 130 on BSE after the company reported 72% year on year growth in net profit at Rs 1,004 million in Q3FY18.

NCC has rallied 9% to Rs 130 on BSE after the company reported 72% year on year (Y-o-Y) growth in net profit at Rs 1,004 million in December quarter (Q3FY18), on back of healthy operational performance. The construction & engineering company had profit of Rs 583 million during the same quarter last fiscal.

However, the operational revenue during the quarter declined 2.7% to Rs 18,507 million from Rs 19,037 million in the corresponding quarter of previous fiscal. EBITDA (earnings before interest, tax, depreciation and amortization) margin improved to 13.6% from 8.97%.

NCC said the company is planning to