Shares of NBCC surged by 3% a day after the state-owned construction firm posted impressive quarterly results for the January-March period.
On Tuesday, NBCC reported a 26 percent growth in its consolidated net profit, reaching Rs 136.08 crore for the quarter ending in March 2024. This is a significant increase from the Rs 108.4 crore net profit recorded in the same period last year.
As of 10:10 am the shares were trading 3.39% higher at ₹143.50 on NSE.
The company’s income from operations also saw a substantial rise, growing to Rs 4,024.5 crore in the fourth quarter of the last fiscal year. This is a marked improvement from the Rs 2,813.35 crore reported in the corresponding period of the previous year.
For the entire fiscal year 2023-24, NBCC’s net profit increased to Rs 401.55 crore, up from Rs 266.66 crore in the previous year. Income from operations for the year grew to Rs 10,432.63 crore, compared to Rs 8,876.36 crore in the 2022-23 fiscal year.
In addition to these strong financial results, NBCC (India) has recommended a final dividend of Re 0.63 per share of the face value of Re 1 per share for the FY 2023-24. This recommendation is subject to approval by shareholders at the upcoming Annual General Meeting. If declared, the final dividend would be paid within 30 days from the date of the AGM.
