NBCC slips 3% as consolidated profit for June quarter plunges 88% YoY

Shares of NBCC slipped nearly 3 per cent on the BSE on Tuesday, a day after the company posted an 87.87 per cent drop in its consolidated net profit at Rs 5.93 crore for the quarter ended June 2020. The company had logged a profit of Rs 48.90 crore in the year-ago period.  

At 02:25 PM, the stock was trading over 2 per cent lower at Rs 26.65 against Monday's close of Rs 27.25. During the day, stock hit a low of Rs 26.50. In comparison, the benchmark S&P BSE Sensex was trading 0.57 per cent higher at 38,977.32 levels. 

NBCC's sales for the quarter declined 64.10 per cent to Rs 676.95 crore against Rs 1,885.76 crore in the corresponding quarter of the previous fiscal. READ MORE
 

In a BSE filing, the company on Tuesday informed that the Comptroller and Auditor General of India has re-appointed M/s Dhawan & Co., Chartered Accountants as Statutory Auditor of NBCC (India) Limited for the FY 2020-21, under section 139 of the Companies Act, 2013. CLICK HERE TO VIEW PRESS RELEASE

Earlier this month, the state-owned company bagged Rs 150 crore project from the Election Commission of India to design and construct an office building at Dwarka in New Delhi. 

NBCC is a construction and engineering company and holds the status of Navratna Central Public Sector Enterprises (CPSE). It has its headquarters in Delhi.