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PNC Infratech reports 44% rise in consolidated net profit for FY19

Infrastructure company PNC Infratech has reported a 44.44 per cent rise in consolidated net profit to Rs 351 cr in last fiscal compared to Rs 243 crore in FY18.

twitter-logo BusinessToday.In        Last Updated: May 25, 2019  | 17:08 IST
PNC Infratech reports 44% rise in consolidated net profit for FY19
During January-March 2019, total income rose to Rs 1,087.96 crore from Rs 765.52 crore in the year-ago-quarter.

Infrastructure company PNC Infratech has reported a 44.44 per cent rise in consolidated net profit to Rs 351 crore in last fiscal compared to Rs 243 crore in FY18.

Revenue from operations for FY19 stood at Rs 3,774 cr, up by 57 per cent as compared to Rs 2,411 crore, recorded in FY18.

EBITDA rose 31 per cent to Rs 1,007 cr in FY 19 compared to Rs 769 cr in FY18.

The infrastructure company has recorded highest ever Revenue and PAT in Q4FY19 as well as in the 12 months period, on consolidated basis.

In the key highlights filing, the company has mentioned that it has achieved financial closure for three of its Hybrid Annuity Projects in time during FY19 and as on date no financial closure is pending for seven HAM projects secured by Company till date.

Additionally, PNC Infratech has reported a 25 per cent jump in standalone net profit at Rs 139.93 crore for the quarter ended March, helped by higher income. For the 12 months period, the net profit has jumped 29 per cent from Rs 251 cr from the last financial year to Rs 324 cr this fiscal.

During January-March 2019, total income rose to Rs 1,087.96 crore from Rs 765.52 crore in the year-ago-quarter.

The company had posted a net profit of Rs 111.52 crore during the same quarter a year ago, PNC Infratech said in a statement. Expenses increased to Rs 972.14 crore in Q4 from Rs 628.19 crore in January-March 2018.

"Several infrastructure orders bagged by the company during the FY19 helped the firm result in good balance sheet. The company recorded its highest ever revenue and profit after tax during Q4," PNC Infratech Managing Director Chakresh Jain said.

Agra-based PNC Infratech has presence in about 15 states of India and provides end-to-end infrastructure implementation solutions that include engineering, procurement and construction (EPC) services.

(Edited with PTI inputs)

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