PJ Nath, MD & CEO of NELCO, said the company has Rs 40 crore of routine capex planned for FY22. The Tata Group company, which is a major very-small-aperture terminal (VSAT) service provider, reported earnings for the June-ended quarter and it has been quite a mixed performance.
Revenue has slipped 15 percent quarter on quarter (QoQ) but the margin has expanded both sequentially and year on year (YoY). Also, the stock is up 85 percent in the last 3 months.
Speaking in an interview with CNBC-TV18, Nath said, “We have about Rs 40 crore odd of capex, which is for high expense of our normal business and it’s all self-funded. We do not require to raise funds at the moment.”
On the business side, he said the first quarter of this financial year saw a lower new customer addition quarter due to the second wave of COVID-19.
For the entire management interview, watch the video.