Bigbloc Construction Limited reported a significant increase of 55.65 percent in its net profit for the quarter ended March 2024, rising to Rs 8.64 crore from Rs 5.55 crore in the same period last year. The company’s profit was boosted by a surge in other income, which stood at Rs 3.82 crore in Q4FY24, compared to Rs 0.69 crore in the previous year.
The sales for the quarter were at Rs 67.95 crore for the quarter, an increase of 46 percent. The EBITDA surged by 18.34 percent to Rs 12.54 crore.
Bigbloc Construction is engaged in the business of manufacturing building blocks and AAC (Aerated Autoclave Concrete) bricks, known for their superior qualities, including strength, lightweight nature, thermal insulation, sound absorption, exceptional fire resistance, and ease of construction.
For the full financial year 2023-24, Bigbloc Construction reported a 1.95 percent increase in net profit, rising to Rs 30.90 crore from Rs 30.31 crore in the previous year. The company’s sales also grew by 21.54 percent, reaching Rs 243.22 crore in the year ended March 2024, compared to Rs 200.11 crore in the previous year.
Ahead of the results announcement, shares of Bigbloc Construction had surged 3.82 percent to Rs 274.80 on the National Stock Exchange (NSE).
