Slowdown in economy, severe competitive pressures lead to lower revenue: NCC
Y D Murthy, Sr. VP Finance at Nagarjuna Construction Company spoke about the company’s Q3 results which saw a 5 per cent year on year decline in sales and a loss of Rs 9.5 crore for the same time period. The company has received Rs 6800 crore worth of orders in FY'12 and expects new orders worth Rs 1,600 crore from the water and irrigation segment. The company said that slowdown in economy, severe competitive pressures lead to lower revenue while time and cost overruns on certain projects led to 50-60 bps impact.
