• Upside at top-line is largely due to strong revenue growth registered by Lump-sum Turnkey Projects (LTP). The segment revenue of Consultancy & Engineering Projects (C&EP) was flat at Rs 332.39 crore. But that of LTP jumped up by 263% to Rs 349.02 crore albeit on a low base. Contribution of C&EP to top-line declined to 49% from 78% in corresponding previous period. But that of LTP increased to 51% from 22% in corresponding previous period.
  
• EBIT for the quarter was down by 26% to Rs 113.89 crore as the segment profit of both C&EP and LTP register a fall. The segment profit of C&EP, on a flat sales, was down by 9% to Rs 96.40 crore hit largely by lower segment margin. Segment margin of C&EO was down by 280 bps to 29%. The segment profit of LTP despite sharp jump its sales, was down by sharp 64% to Rs 17.49 crore hit hard by 4560 bps crash in its segment margin to 5.0%. Sharp crash in segment margin of LTP was largely due to change in margin profile of orders executed for the quarter compared to corresponding previous period.
  
• Lower profitability is largely due to change in revenue mix as well as increased contribution to topline from high volume low margin LTP business.

Half yearly performance

Sales was up by 56% to Rs 1254.73 crore and with OPM crash to 14.2% from 27.4%, the operating profit was down by 19% to Rs 177.83 crore. Finally the PAT before PPT was down by 9% to Rs 182.55 crore. After accounting for higher PPT and other comprehensive income, the total comprehensive income was down by 5% to Rs 185.21 crore. Segment profit of C&EP was down by 5% to Rs 186.40 crore as its sales stand flat at Rs 654.71 crore and segment margin contract by 140 bps to 28.5%. The segment profit of LTP was down by 39% to Rs 32.22 crore despite 308% jump in its sales to Rs 600.02 crore was largely due to 3030 bps crash in its segment margin to 5.4%.