After PNC Infratech’s results were released after market hours on Friday, the company’s stock price increased by more than 11% on Monday morning. PNC Infratech recorded a multifold increase in standalone net profit of ₹422 crore in Q1 of this year compared to ₹157 crore in Q1 of the previous year. Additionally, the company’s consolidated net profit of ₹575 crore increased dramatically from ₹181 crore in the same quarter last year.
The rise in investor confidence increased share prices. On Monday, PNC Infratech’s share price opened at ₹520, up over 11% from the previous closing of ₹429.75 on the NSE.
Certain one-time gains increased the net profit during the first quarter. In Q1 FY25, the company’s standalone revenues were ₹1744 crore, down from ₹1861 crore in Q1 FY24. With ₹2168 crore in consolidated revenues, it was just marginally higher than ₹2092 crore in the prior quarter.
As of 2:09 pm, PNC Infratech shares were trading 4.09% higher at Rs 485.00 on the NSE.
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