KNR Constructions Profit Plummets 58.7% in Q3

KNR Constructions has announced a significant 58.7% decrease in net profit for the third quarter of the current financial year, reporting ₹102.8 crore compared to ₹248.6 crore in the same period last year. The infrastructure firm's revenue also saw a decline of 12.4%, amounting to ₹743.2 crore, down from ₹848 crore year-on-year.

Operating performance weakened considerably, with EBITDA dropping 34.8% to ₹166.7 crore and the EBITDA margin contracting to 22.4%. However, a notable new development for the quarter was the letter of acceptance for a ₹319.24 crore project from the Musi Riverfront Development Corporation. This project involves constructing an iconic bridge across Mir Alam Tank in Hyderabad, offering a potential positive outlook despite the current financial results.