NBCC (India) slumps after weak Q1 numbers

NBCC (India) slumped 10.97% to Rs 35.3 at 10:45 IST on the BSE after consolidated net profit declined 37.9% to Rs 51.46 crore on 16.3% fall in net sales to Rs 1885.76 crore in Q1 June 2019 over Q1 June 2018.

The result was announced after the market hours yesterday, 8 August 2019.

Meanwhile, the S&P BSE Sensex was up by 319.6 points or 0.86% at 37,646.96.

On the BSE, 26.52 lakh shares were traded in the counter so far compared with average daily volumes of 11.75 lakh shares in the past two weeks. The stock had hit an intraday high of Rs 38.5. The stock hit an intraday low of Rs 34.2 which is also a 52-week low for the counter. The stock hit a 52-week high of Rs 77.7 on 9 August 2018.

On standalone basis, NBCC's net profit declined 62.6% to Rs 25.3 crore on 22.8% decline in net sales to Rs 1254.55 crore in Q1 June 2019 over Q1 June 2018.

The company announced after market hours on 7 August 2019, that it secured total business of Rs 201.77 crore in June and July 2019. It bagged a total business of Rs 3.29 crore in June 2019 and Rs 198.48 crore in July 2019.

NBCC (India) is engaged in project management consultancy, real estate development and EPC contracting. The Government holds 68.18% stake in NBCC as of 30 June 2019.

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