Shares of PNC Infratech fell sharply by 7% on November 13, reaching a 52-week low, following a disappointing Q2FY25 earnings report and recent challenges with government contracts.
Q2 Financial Performance
- Net profit dropped 43.6% YoY to Rs 83.5 crore.
- Revenue declined 25.3% YoY to Rs 1,427 crore.
- EBITDA decreased 10.9% to Rs 356.4 crore, with EBITDA margin improving to 25% from 20.9% last year.
Company Background and Recent Challenges
PNC Infratech, which handled major chunks of infrastructure involving highways, bridges, and water systems, encountered a severe set back when the Ministry of Roads, MoRTH, disqualified the company and its subsidiaries for one year from participating in new projects. Nuvama Institutional Equities has put the stock under review.
Stock Performance
As of 10:42 AM, the stock traded at Rs 304.80, marking a 12% drop year-to-date. Over the past year, it has slipped 4%, underperforming the Nifty’s 23% gain.
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Source: Moneycontrol
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