NCC Limited (NCC) has posted a lower profit of ₹58.41 crores for the second quarter ended September 30, 2020, as against a profit of ₹80.04 crores for the corresponding quarter of last fiscal on a standalone basis.
The Covid lockdown phase business has been affected resulting in lower revenues and profit.
The Hyderabad-based construction company reported a total income of ₹1,578.14 crores (including other income) for the second quarter as against ₹1,802.32 crores in the corresponding quarter of the previous year.
For the six months ended September 2020, the company posted an income of ₹2,789.55 crores (including other income) as against ₹4,015.02 crores in the corresponding six months. The company posted a profit of ₹75.34 crores as against ₹161.36 crores in the corresponding period last year.
On a consolidated basis, the company reported revenues of ₹1,743.59 crores for the second quarter (₹1,998.25 crores) and logged in a profit of ₹64.60 crores (₹82.18 crores).
The operating results of this quarter and six months period ended September 30, 2020, are not comparable with the corresponding periods of the previous year since the operations continued to be impacted by measures to contain the Covid-19 pandemic. The execution of projects gathered momentum, though recovery has been gradual and partial, said AAV Ranga Raju, Managing Director of NCC.
In the second quarter of the current year, the company secured new work orders aggregating to ₹2,962.21 crores and the order book stood at ₹29,361.66 crores as of September 2020.