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NBCC returns to profitability in September quarter led by PMC, real estate business

NBCC returns to profitability in September quarter led by PMC, real estate business

NBCC returns to profitability in September quarter led by PMC, real estate business
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By CNBCTV18.com Nov 15, 2022 5:40:00 PM IST (Updated)

NBCC secured total business of Rs 332 crore in October as against Rs 162 core in September.

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State-run NBCC (India) Ltd. returned to profitability in the September quarter, reporting a net profit of Rs 99 crore. It reported a net loss of Rs 4.5 crore in the June quarter.
On a year-on-year basis, the company's bottom line increased by 33 percent.

Income from operations increased 8 percent from last year to Rs 2,029 crore from Rs 1,879 crore during the same period last year.

Among the company's segments, the Project Management Consultancy (PMC) business increased by 7 percent, while the real estate business tripled year-on-year due to a low base. Its third division, the Engineering, Procurement, and Construction (EPC) business remained flat from last year.

Additionally, the company also secured business worth Rs 332.8 crore during the month of October, nearly double of what it managed to secure in September.
The company had won orders worth Rs 162 crore in September.

Shares of NBCC opened higher but pared some of the gains to end 1.9 percent higher at Rs 35.

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