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NBCC (India) slides after Q3 net profit tumbles 41%

Capital Market 

NBCC (India) fell 1.24% to Rs 31.80 after consolidated net profit tanked 40.8% to Rs 49.54 crore in Q3 December 2019 (Q3 FY20) as against Rs 83.65 crore reported in Q3 December 2018 (Q3 FY19).

Net sales fell 20.3% year-on-year (Y-o-Y) to Rs 1,916.68 crore in Q3 FY20. The Q3 result was released after trading hours yesterday, 12 February 2020.

Profit before tax (PBT) dropped 38.8% to Rs 72.77 crore Y-o-Y. Current tax expenses slumped 61.1% to Rs 15.11 crore during the period under review.

Revenue in project management contract (PMC) business segment fell 20.58% to Rs 1,777.70 crore Y-o-Y. Revenue in real estate segment slumped 50.18% to Rs 15.73 crore during the period under review. Engineering, Procurement, Construction (EPC) segment revenues slipped 7.75% to Rs 123.24 crore in the stated period.

NBCC (India) provides civil engineering construction services. The firm operates through three segments: Project Management Consultancy (PMC), Real Estate Development & Engineering, Procurement and Construction (EPC).

As of 31 December 2019, the Government of India holds 64.95% stake in the company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 13 2020. 13:22 IST