Nagarjuna Construction reports over 6pc fall in Q3 net profit

Hyderabad, Feb 4 (PTI) City-based infra major NagarjunaConstruction Company (NCCL) has reported a fall of 6.61 percent in net profit for the quarter ended December 31 at Rs52.11 crore, as against Rs 55.8 crore in the same period lastyear.

However the company witnessed a growth of nine per centin the revenue at Rs 1,599 crore, up from Rs 1,466 crore ayear ago, with a growth of 14 per cent in Ebidta (earningsbefore interest, depreciation, tax and amortisation) at Rs175.51 crore.

A senior company official said fall in the net profit wasdue to higher interest expenditure which stood at Rs 64.5crore for the quarter as against Rs 51.3 crore for the sameperiod last year.

The official said the company may witness a similar trendin the coming quarters on account of high interest chargeswhich may affect the bottom line.

For the nine months period ended December, the companyreported an increased revenue of Rs 4,496.17 crore, while thenet profit grew to Rs 171.82 crore.

According to the company, it has so far secured ordersaggregating Rs 6,236 crore in the current year, and the orderbook stood at Rs 17,269 crore as of December 31, 2010. PTI GDK

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