Dilip Buildcon Q2 net profit dips 50 pc to Rs 26 cr

Dilip Buildcon on Thursday reported a 50 per cent decline in consolidated net profit to Rs 25.80 crore for the September quarter. The company had posted a net profit of Rs 52 crore in the corresponding quarter of previous fiscal, it said in a BSE filing.

Total income for the quarter under review increased to Rs 1,997.48 crore as against Rs 1,741.51 crore in the year-ago quarter. Total expenses rose to Rs 1,953.66 crore for the quarter as against Rs 1,677.34 crore in the same period last year.

The company said it has won new orders worth Rs 6,170.7 crore during the current fiscal till date across sectors including roads, mining and irrigation. It also said that it entered into agreement with Cube Highways and Infrastructure III Pte Ltd Singapore for sale of five under-construction hybrid annuity model (HAM) projects on August 31, 2019, and divested equity of Rs 568.4 crore.

Shares of Dilip Buildcon closed 2.44 per cent down at Rs 398.45 apiece on the BSE.