• Upside in revenue is largely due to strong growth in both EPC as well as BOT. The revenue of EPC was up by 27% to Rs 686.10 crore and the BOT was up by 84% to Rs 9 crore.
• Despite strong revenue growth in high twenties, the EBITDA of EPC was up by just 9% to Rs 65.90 crore as the EBITDA margin contract by 170 bps to 9.6%. Similarly despite strong revenue growth of 84%, the EBITDA of BOT division was up by 56% to Rs 5 crore as its EBITDA margin contract by 970 bps to 55.6%.
• Other income though stood higher by 164% to Rs 1.45 crore, hurt by higher interest (up 14% to Rs 32.43 crore) and depreciation cost (up 9% to Rs 7.01 crore), the PBT was higher by 13% to Rs 33.40 crore.
• Tax provision though stood higher by 10% (to Rs 8.66 crore) the tax rate stood higher at 25.9% compared to 26.5% in corresponding previous period. Thus the PAT was up by 13% to Rs 24.74 crore.

Nine Month Performance

Consolidated sales were higher by 22% to Rs 1717.27 crore. But with OPM stand contracted by 140 bps to 11.2% the growth at operating profit was restricted to 9% to Rs 192.59 crore. The other income was higher by 253% to Rs 4.69 crore. The interest and depreciation cost was higher by 16% and 12% respectively to Rs 52.55 crore and Rs 11.38 crore. Thus the growth at PBT was 7% to Rs 93.91 crore. After accounting for a taxation of Rs 20.37 crore (down 1%) the growth at PAT level was higher by 9% to Rs 73.54 crore.

Stock hovers around Rs 136.20