BENGALURU (Reuters) - Indian construction firm NCC reported a rise in third-quarter profit on Thursday 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 2.21 billion rupees ($26.63 million) in the three months ended Dec. 31.
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KEY CONTEXT
Although order inflow has been slightly weak for NCC, robust order book and diversified capabilities across various infrastructure verticals aided the company in sustaining its strong execution in the medium term, brokerage Centrum said.
Bigger peer Larsen and Toubro reported a 15% rise in quarterly profit and said it does not expect orders to be robust over the next two quarters due to the general elections in India, which are due by May.
PEER COMPARISON
Valuation (next 12 Estimates (next 12 Analysts' sentiment
months) months)
RIC PE EV/EBIT Price/ Revenue Profit Mean # of Stock to price Div yield
DA Sales growth% growth% rating * analysts target ** (%)
NCC Ltd 15.81 7.44 NULL 15.75 26.48 BUY 11 1.19 1.00
KNR Constructions Ltd 17.17 10.58 NULL 10.37 11.32 BUY 15 0.95 0.09
PNC Infratech Ltd 15.29 15.09 NULL 11.03 11.24 BUY 13 0.91 0.11
HG Infra Engineering Ltd 11.38 8.03 NULL 15.31 10.37 STRONG 12 0.82 0.13
BUY
* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
OCT-DEC STOCK PERFORMANCE
-- All data from LSEG
-- $1 = 82.9750 rupees