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Indian engineering contractor SEPC swings to Q2 net loss, revenue falls

By Reuters News


Overview

  • Indian engineering contractor's Q2 consolidated revenue from operations fell 2.8% to INR 2.31 bln

  • Company swung to a loss of INR 585.4 mln in Q2 from a profit of INR 83 mln a year ago

  • SEPC received stock-exchange approval after period-end for its proposed 90% acquisition of Avenir International Engineers and Consultants


Outlook

  • Company did not provide specific financial guidance or outlook for upcoming quarters or year in its press release


Result Drivers

  • DEFERRED-TAX CHARGE – Co reported deferred tax expense of INR 953.5 mln for the quarter, compared to INR 25 mln a year ago

  • AVENIR DESIGN ORDER – A one-time AED 13.5 mln oil-and-gas design-and-drawing order was executed and billed during Q2, with revenue recognised in other operating income


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 Consol Revenue from OPS

INR 2.31 bln

Q2 Consol Net Profit

-INR 585.4 mln


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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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