PSP Projects rose 2.97% to Rs 381 after consolidated net profit rose 14% to Rs 3,395.90 crore on 35% increase in revenue from operations to Rs 45,639.70 crore in Q4 FY20 over Q4 FY19.
Profit before tax stood at Rs 4,643.42 in Q4 March 2020, up 2% from Rs 4,541.91 crore in Q4 March 2019. EBITDA rose 2% in the fourth quarter to Rs 5,084.02 crore compared with Rs 5,007.97 crore in the same period last year. EBITDA margin stood at 11.14% as on 31 March 2020 as against 14.79% as on 31 March 2019.
Consolidated net profit rose 44% to Rs 12,817.78 crore on 43% increase in revenue from operations to Rs 1,49,925.93 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19). PBT rose 26% to 17,307 crore in FY20 over FY19.
"Construction industry (especially the building sector) has lost three productive months of the year which is going to hit the sector in an unpleasant way. Due to non-working conditions during the lockdown and subsequent migration of workers to their home states has resulted into sudden downfall/negligible sales, simultaneously company is surrounded by many fix cost to perform. This will have significant impact on the profitability of Q1FY21.
According to the current estimates, the management believe that the operations of the company may return back to normalcy by Q2FY21. Thus, the COVID-19 situation is expected to also affect the profitability during the first half of this year only", the company said.
PSP Projects is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in the country.
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