NCC Ltd. (NJCC) reported a stellar performance in 2QFY19 as well with its revenue and adjusted PAT growing by 138% YoY and 167% YoY, respectively mainly underpinned by better execution and higher-than-expected operating margin. Its reported revenue stood at Rs31bn (+32% QoQ). While EBITDA grew by 194% YoY to Rs3.65bn, EBITDA margin rose by 220bps YoY and 41bps QoQ to 11.8%. The Company secured orders worth Rs83.6bn during the 1HFY19 taking its total order book to Rs330bn (4.4x of FY18 revenue). While finance cost increased by 22% YoY to Rs1bn led by ~Rs3.6bn increase in gross debt during 1HFY19 and higher interest on mobilisation advances. APAT grew by 164% YoY to Rs1.57bn mainly led by strong operating...