Punj Lloyd has announced its second quarter FY10 results. Its Q2 consolidated net profit declined 63.33% to Rs 52.85 crore versus Rs 144.12 crore, on year-on-year basis (YoY).
Consolidated net sales fell 1.7% to Rs 2,876.44 crore versus Rs 2,926.05 crore, YoY. Operating profit margin declined to 7.37% versus 10.23%. The company reported poor set of numbers on the back of Simon Carves' cost overruns. Simon Carves incurred Rs 130 crore of loss. High interest costs dampened bottomline of the company.
Revenues growth remained sluggish, as large orders received yet to yield revenues.
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