ICICI Securities Ltd | Retail Equity Research NCC's topline de-grew 7.1% YoY to | 1947.9 crore (our estimate: | 2142.8 crore) owing to muted execution following heavy monsoons EBITDA margins remained flat YoY at 8.8% (our estimate of 8.7%) PAT de-grew at 7.1% YoY to | 51.1 crore (our estimate: | 62.4 crore) due to topline miss & higher-than-expected effective tax rate (30.9% in Q2FY17 vs. our estimate of 28.0%). PAT also included an exceptional gain of | 4.8 crore related to net interest income (after adjusting for...