NBCC (India) Ltd jumps 4% post robust Q4 results

Shares of NBCC (India) Ltd jumped 4 percent in early trade on May 30 after posting robust Q4 results. At 9:17 am, the shares of NBCC (India) Ltd were trading 3.57 percent higher at Rs 43.40 on NSE.

State-owned NBCC (India) Ltd, on Monday, posted a consolidated net profit of Rs 108 crore for the March quarter. This is 205 percent higher from Rs 35.39 crore a year ago, the company statement said. The company’s revenue from operation rose by 14.28 per cent to Rs 2,790 crore for the March quarter as compared to Rs 2,441 crore in the year-ago period.

In the regulatory filing, the company further stated that, “The board of directors have recommended a final dividend of Rs 0.54 per equity share (subject to deduction of TDS) on the face value of the paid-up equity shares of Rs 1 per share for the FY 2022-23 subject to approval of shareholders in the ensuing Annual General Meeting.”

Recent developments in NBCC (India) Ltd

In April 2023, NBCC (India) Ltd said it has signed a memorandum of understanding with SIDBI for development work of their properties across India. The MoU (memorandum of understanding) was inked by Pradeep Sharma, CGM (Engg) at NBCC, and Manas Ranjan Hati, DGM at SIDBI, in presence of senior officials from both the sides, the company said in a statement.

Stock Performance

NBCC (India) Ltd stock has considerably underperformed the benchmark Nifty50 index over the last 5 years, losing 51.73 percent of its value. Whereas the Nifty50 benchmark index has given a return of 74.07 percent in the same period.

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