Nirlon gains on strong Q3 performance

Nirlon advanced 3.26% to Rs 310 after net profit surged 49.91% to Rs 27.27 crore in Q3 December 2019 as against Rs 18.19 crore reported in Q3 December 2018.

Net sales declined 1.17% year-on-year (YoY) to Rs 76.60 crore in Q3 December 2019. The result was announced during market hours today, 5 February 2020.

Profit before Tax jumped 36.41% to Rs 37.91 crore in Q3 December 2019 as compared to Rs 27.79 crore posted in Q3 December 2018. Current tax expenses, for the quarter, registered a 9.16% rise to Rs 7.15 crore over Rs 6.55 crore paid in Q3 December 2018.

EBITDA fell 6.07% to Rs 57.20 crore YoY. The occupancy rate improved to 99.7% in Q3 December 2019 as against 99.4% in Q3 December 2018.

Nirlon is engaged in the business of development and managing an industrial park. The firm is focused on development and management of industrial park operations at Goregaon (East), Mumbai. The company owns Nirlon Knowledge Park, which is an industrial park/information technology (IT) park covering approximately 23 acre in Goregaon.

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