PNC Infratech today reported over three-fold jump in standalone net profit at Rs 111.52 crore during March quarter, on higher income.
The company had clocked Rs 33.74 crore net profit during the same quarter a year ago.
Total income during the reported quarter more than doubled to Rs 765.52 crore from Rs 361.15 crore in the year-ago period.
Total expenses stood at Rs 628.19 crore as against Rs 325.52 crore in March quarter of 2016-17.
"The company has core competency in planning, development, construction, operation and management of highway projects with proven track record of completing projects ahead of scheduled time. We have been awarded two bonus amounts for early completion of projects," Managing Director Chakresh Jain said.
The company received an amount of about Rs 60 crore as bonus from Uttar Pradesh government for early completion a section on Agra-Lucknow expressway, he said.
Another bonus of Rs 34 crore was received from National Highways Authority of India (NHAI) for early completion of two-laning of 166.44 km Raebareli-Jaunpur section of NH-231.
Agra-based PNC Infratech provides end-to-end infrastructure implementation solutions that include engineering, procurement and construction (EPC) services on a fixed-sum turnkey basis as well as on item rate basis.
The company is present in over 12 states.
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