Hyderabad-based construction company NCC Limited posted a 74 percent increase in net profit at Rs 167.57 crore for the quarter ended December 2018 on the back of higher revenue growth during the quarter. The company had reported a net profit of Rs 96.21 crore in the year ago period.
NCC's consolidated revenue rose by 63.15 at Rs 3,415.64 crore as compared with Rs 2,093.45 crore in the corresponding previous quarter.
For the nine month period ending December 2018 the company's net profit grew more than two fold to Rs 392.28 crore as compared to Rs 121.60 crore in the same period previous year. Revenues stood at Rs 9,208.38 crore as compared to Rs 5849.85 crore in the corresponding period previous year.
In the consolidated financials, the exceptional item of Rs 40 crore for nine months ended December 2018 was towards adverse arbitration award in respect of a project undertaken by an overseas subsidiary company and Rs 7 crore non-recoverability of advances from overseas subsidiaries, the company informed stock exchanges.
During the nine month period of the current financial year, NCC has secured orders of Rs 12,815 crore and the order book stood at Rs 34,185 crore, according to the company.