PNC Infratech Q3 Review - HAM Monetisation – Key Trigger Ahead: ICICI Direct
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ICICI Direct Report
One-off impairment impacted PNC Infratech Ltd.'s reported margins. Standalone revenue was up 15.1% YoY to Rs 1,522 crore.
Reported Ebitda at Rs 165.5 crore was down 7.3% YoY with margin at 10.9%, down 263 basis points YoY. The company has booked Rs 39 crore towards impairment of Ghaziabad Aligarh Expressway Pvt. Ltd. (associate company).
Adjusted for this, PNC Infratech’s margin was at 13.5%. Profit after tax was at Rs 81 crore, down 21.5% YoY. Considering one-time impairment cost, profit after tax improved 17% YoY to Rs 120.4 crore.
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