NBCC Q3 profit after tax up by 29 pct

NBCC (India) Ltd, the state-owned Navratna Enterprise under the Ministry of Housing and Urban Affairs, on Tuesday reported a 29.40 percent consolidated increase in Profit After Tax (PAT) at Rs 73.98 crore for the third quarter ended December 2017 as compared to Rs 57.17 crore in the same quarter last year.

The company has registered a consolidated growth of 29.05 percent in EBITDA of Rs 75.52 crore in Q3FY17-18 as against an EBITDA of Rs 58.52 crore in Q3FY16-17.

Moreover, the consolidated total income from the operations of the company is at Rs 1511.51 crore.

The board of directors in a meeting today approved the splitting of the company's equity share of face value of Rs. 2 each into two shares of face value Rs 1 each.

Payment of interim dividend in a board meeting scheduled for March 8, will also be considered.

"The company's strategic move of expanding beyond its traditional scope of businesses, identifying new revenue streams, entering new markets and securing high value projects, has reflected in this financial result," said chief managing director, Anoop Kumar Mittal.

"Going forward, the company is going to pursue a multi-pronged approach of carrying out a sustainable and profitable business model," Mittal added.

Starting with a market capital of approximately Rs 1,165 crore at the time of its listing with the stock exchanges in April 2012, NBCC's market capital now stands at Rs. 19,454 crore as on February 12.