PNC Infratech gained 2.2% to Rs 174.55 after the company said it received letter of acceptance from Andhra Pradesh Water Resources Department for an EPC project of Rs 1000.72 crore.
The order is for upgradation of Canal System from Pothireddypadu head regulator and BCR complex from foreshore of Srisailam reservoir and improvements to existing SRBC/GNSS canal upto berm level from Banakacherla complex to Gorukallu balancing reservoir in Andhra Pradesh.PNC Infratech is engaged in infrastructure development through the construction of highways including BOT (built, operate and transfer projects), airport runways, bridges, flyovers and power transmission projects among others.
The company's net profit declined 63.3% to Rs 78.66 crore in Q2 September 2020 from Rs 214 crore in Q2 September 2019. Net sales fell 6.9% year on year to Rs 1248.46 crore in Q2 September 2020.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
