Q2 profit and margins fall; order book reaches Rs 71,957 crore
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On the reaction day the stock moved 2.5 pts less than Nifty Smallcap 250 and 2.4 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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Q2 revenue from operations fell 0.6% to Rs 5,174.99 crore. Earnings before interest, tax, depreciation and amortisation fell to Rs 393.31 crore, and its margin narrowed to 7.6% from 8.5%. Profit for shareholders declined to Rs 154.70 crore from Rs 162.95 crore. For the half-year, it was Rs 346.84 crore versus Rs 354.88 crore. Standalone cash flow from operations was negative. The consolidated order book reached Rs 71,957 crore.
Lower profit, narrower margins and negative operating cash flow may hurt sentiment, but the Rs 71,957 crore order book supports future revenue.