Larger peers Larsen and Toubro reported a 15% rise in quarterly profit and said they do not expect orders to be robust over the next two quarters due to India’s general elections in May.
Indian construction company NCC on Thursday reported a rise in third-quarter profit as project execution was robust in a seasonally low quarter.
The company’s consolidated net profit after tax rose nearly 40% year-on-year to Rs 221 crore ($26.63 million) in the three months ended December 31.
While order inflows were somewhat weak for NCC, its robust order book and diversified capabilities across verticals helped the company maintain its strong execution over the medium term, brokerage Centrum said.
Larger peers Larsen and Toubro reported a 15% rise in quarterly profit and said they do not expect orders to be robust over the next two quarters due to India’s general elections in May.
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First print: February 8, 2024 | 6:20 PM IST