PNC Infratech hoists good Q1FY17

Infrastructure construction, development and management company, PNC Infratech on Aug 24, post market hours has declared its Q1FY17 results.In Q1, total revenue stands at Rs. 515 crores, on a standalone basis, which is 18.6 per cent higher as compared to Q1FY16. EBITDA and PAT stands at Rs 67.1 crores and Rs. 64 crores, respectively, surging by 11.6 per cent and 145 per cent on a YoY basis.

On a consolidated basis, total income from operations stands at Rs. 635.5 crores as against Rs. 677.7 crores in the corresponding quarter of the previous fiscal. The 6.2 per cent decline is attributed to application of Indian Accounting Standards (Ind-AS) for the first time.Based on Indian GAAP,(Generally Accepted Accounting Standard) however, consolidated revenue was higher by 26.9 per cent. Consolidated EBITDA for the quarter stands at Rs 165.8 crores, which has increased by 25.4 per cent as compared to Q1FY16, while profit after tax (PAT) is up by 145 per cent, at Rs 54.2 crores compared to Rs. 22.2 crores in the corresponding quarter of the previous year.

Shares of the company on Aug 25 opened at Rs 129.90, up by 5.41 per cent. In the last 1 month, the scrips have rallied by 14 per cent. However, scrips have given a good movement in the last 1-year surging by more than 44 per cent. 52 week high/low of the company stands at Rs 134.90/82.20.