Shares of NBCC Ltd gain 5% post robust Q1 numbers

Shares of NBCC Ltd gained over 5 percent to Rs 50.3 in early morning trade on August 11 after the company reported strong numbers for Q1FY24.

The company’s net profit grew to Rs 77.41 crore during the quarter ended June 30, 2023. It had recorded net consolidated loss after tax of Rs 4.84 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filling.

The net consolidated total income grew 6.61 percent to Rs 1,917.87 crore in Q1FY24.

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Earnings before interest, taxes, depreciation, and amortisation (EBITDA) were up 32.5 percent YoY at Rs 53.1 crore. EBITDA margins expanded by 60 basis points, reaching 2.8 percent.

During the quarter ended on June 30, 2023, the group had spent a total amount of Rs 6.13 crore (Rs 5.78 crore for buyback of flats/units & Rs 35.21 lakh against refund of advance received from allottee) in the NBCC Green View project situated in Gurugram. The proportionate net realisable value (NRV) to the units/flats received against this payment stands at Rs 1.71 crore.

NBCC (India) Limited is a Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs. The company operates in three major segments – project management consultancy, engineering procurement & construction, and real estate.

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