KNR Construction witnesses significant jump in PAT

KNR Construction's standalone revenue for the quarter came in at Rs. 433.19 crore, registering 13.3 per cent yoy increase.

EBITDA for the quarter rose by 70.5 per cent yoy to Rs. 98.4 crore with a corresponding margin expansion of 762 bps. EBITDA margin for the quarter stood at 22.7 per cent. This margin expansion was aided by significant dropped in sub-contracting cost in proportion to sales (20 per cent in the current quarter as against 39.2 per cent in corresponding quarter of last year)

The PAT for the quarter came in at Rs. 65.69 crore, yoy increase of 114.2 per cent. This was due to tax credit of Rs. 3.26 crore as against 9.3 per cent effective tax rate in corresponding quarter of last year. However, despite announcement of this good set of numbers the stock of KNR Constructions declined by almost 2 per cent to touch intra-day low of Rs. 321.1. At 2.40 p.m. the stock of KNR Construction was trading at Rs. 322.2 per share.