PNC Infratech (PNC) reported significant revenue de-growth of 30.7% YoY to | 356.7 crore (our estimate: | 407.2 crore) due to muted execution on account of delays in getting appointed dates EBITDA margins expanded robustly by 156 bps YoY to 14.6% as price variation worth | 5.2 crore in an older project was booked. Otherwise, margins were in line with our estimate of 13.1% Net profit de-grew significantly by 53.3% YoY to | 29.9 crore (our estimate: | 32.4 crore) despite lower effective tax rate (6.7% in...