• Operating profit margin expanded by 460 bps to 13.8%. Expansion in OPM was largely due to lower sub contract and other construction expense. The subcontract charges as proportion to sales was down by 180 bps to 31.95. Similarly the other construction expense was down by 410 bps to 8.5%. But material cost was up by 260 bps to 39.7% and that of staff cost and OE stood increased by marginal 10 bps and 20 bps respectively to 4.6% and 2.7%.
• Other income was down by 29% to Rs 28.08 crore. The PBIDT was up by 33% to Rs 283.20 crore. After accounting for higher interest cost (up 3% to Rs 104.32 crore) and depreciation (up 5% to Rs 29.74 crore) the PBT was up by 77% to Rs 149.14 crore.
• The EO expense was Rs 30.0 crore, a jump of 286%. Thus hit the PBT after EO was up by 56% to Rs 119.14 crore. The taxation was up by 4% Rs 18.78 crore in absolute terms but the tax rate stood lower at 15.8% compared to 23.7% in corresponding previous period. Thus the PAT jumped by 72% to Rs 100.36 crore.
• However a negative swing of Rs 7.67 crore at other comprehensive income to Rs 0.35 crore of expenses, the growth at total comprehensive income stood moderated at 52% to Rs 100.01 crore.

Nine month performance

Operating income was lower by 10% to Rs 5164.54 crore. With OPM expand by 180 bps to 10.7% the operating profit was up by 8% to Rs 550.45 crore. After accounting for lower other income, lower interest and higher depreciation, the PBT was up by 22% to Rs 276.11 crore. EO expense for the quarter was Rs 76.56 crore as against an expense of Rs 3.01 crore in corresponding previous period. Thus the PBT after EO was down by 11% to Rs 199.55 crore. The taxation was Rs 15.46 crore, a fall of 75%. Thus the PAT was up by 14% to Rs 184.09 crore.

Order book

Order inflow in 9mFY18 was Rs 21614 crore and order book as end of Dec 31, 2017 stood at Rs 31627 crore up from an order book of Rs 18088 crore as end of March 31, 2017.