PNCL reported standalone revenues of Rs5.6bn, up 108% yoy. Revenues were lower than our estimates, but only marginally, supported by strong execution in its key projects. Reported PAT increased 110.8% yoy to Rs351mn, lower than our and Street estimates, on higher execution, offset by higher interest costs and tax rate. Encouraged by the strong order book and 1HFY19 performance, PNCL has raised its...