Indian construction firm NCC reported a rise in third-quarter profit on Thursday as project execution was robust in a seasonally low quarter.
The company’s consolidated net profit after tax rose nearly 40% year-on-year to Rs 221 crore ($26.63 million) in the three months ended Dec. 31.
Although order inflow has been slightly weak for NCC, robust order book and diversified capabilities across various infrastructure verticals aided the company in sustaining its strong execution in the medium term, brokerage Centrum said.
Bigger peer Larsen and Toubro reported a 15% rise in quarterly profit and said it does not expect orders to be robust over the next two quarters due to the general elections in India, which are due by May.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Feb 08 2024 | 6:20 PM IST