PNC Infratech announced that Care Ratings has withdrawn the rating(s) assigned to the Bank facilities of PNC Rajasthan Highways (PRHPL) with immediate effect, as the company has repaid the term loan in full and there is no amount outstanding under the loan as on date as per report received on 22 June 2022.

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PNC Infratech announced the signing of concession agreement on 31 May 2022, between National Highways Authority of India and the Special Purpose Vehicle (Akkalkot Highways) incorporated by the Company for implementation of following Hybrid Annuity Mode (HAM) Project in Karnataka.

The Rs 1575 crore project entails Construction of 6 Lane Access Controlled Greenfield Highway from km 26.000 to 97.000, from Badadal (MH/KN Border) to Maradgi S Andola of NH-150C (Package-II) on Hybrid Annuity Mode, under Bharatmala Pariyojna.

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PNC Infratech announced that the Board of Directors of the Company at its meeting held on 28 May 2022, inter alia, have recommended the final dividend of Rs 0.5 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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Net profit of PNC Infratech rose 64.40% to Rs 247.19 crore in the quarter ended March 2022 as against Rs 150.36 crore during the previous quarter ended March 2021. Sales rose 19.40% to Rs 2226.02 crore in the quarter ended March 2022 as against Rs 1864.27 crore during the previous quarter ended March 2021.

For the full year,net profit rose 16.81% to Rs 580.43 crore in the year ended March 2022 as against Rs 496.90 crore during the previous year ended March 2021. Sales rose 24.54% to Rs 7208.04 crore in the year ended March 2022 as against Rs 5787.57 crore during the previous year ended March 2021.

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