ICICI Securities Ltd | Retail Equity Research PNC Infratech (PNC) reported robust revenue growth of 106.2% YoY to | 735.5 crore (our estimate: | 605.4 crore) led by strong execution EBITDA margins expanded robustly by 300 bps YoY to 17.6% on account of bonus receipt of | 25.3 crore for early completion of RaeBareilly-Jaunpur project. Adjusting for this bonus, EBITDA margin was at 14.7%, still better than our estimate of 13.5% Net profit grew robustly by 243.2% YoY to | 102.5 crore (our expectation: | 46.4 crore) mainly on account of significant topline...