September quarter profit falls 34% as order book rises to Rs 4,476 crore
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On the reaction day the stock moved 5.6 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Quarterly operating revenue fell 21.4% to Rs 286.76 crore, while net profit declined 34.4% to Rs 22.75 crore. Half-year revenue was Rs 589.57 crore, down 12.3%, and net profit was Rs 46.32 crore, down 21.0%. Order balance rose to Rs 4,476.36 crore. A Rs 459 crore Telangana order has begun, while a Rs 630 crore Rajasthan order is expected to start in the third quarter. Pune projects had 1,058 unit sales and Rs 288.47 crore in advances.
Lower profits may weigh on the stock, while higher orders and property advances support future sales and lower borrowing.