NCC announces order win of Rs 8,398 crore in August, stock gains 2%

The company, in a regulatory filing on August 1, said its electrical division had bagged four contracts for executing electrical metering and distribution projects.

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NCC shares were trading 2 percent higher in the morning trade on September 1 after the infra-company announced having received four contracts worth Rs 8,398 crore in the month of August.

The company, in a regulatory filing on August 1, said its electrical division had bagged four contracts for executing electrical metering and distribution projects.

“The first two orders, worth Rs 5,755 crore from the Maharashtra State Electricity Distribution Corporation along with the third order from the North Bihar Power Distribution Corporation, are related to advanced metering infrastructure projects. These are expected to be executed on design, build, finance, own, operate, transfer basis,” the company said.

The fourth order, worth Rs 319 crore, it said, was from the Bangalore Electricity Supply Company for upgradation of its distribution automation system.

At 11.00 am, NCC stock was quoting at Rs 172.60, up Rs 3.00, or 1.77 percent on the NSE.

The financials

In its results for the April-June quarter, the company reported a 31.88 percent year-on-year (YoY) rise in revenue from operations at Rs 4,380 crore. Net profit for the quarter increased 34.30 percent YoY to Rs 184 crore. The operating profit margin for the quarter remained flat at 9 percent.

NCC, formerly known as Nagarjuna Construction Company, is a Hyderabad-based company engaged in the business of executing infrastructure projects in sectors such as transportation, housing, water, and power.

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