NBCC Q1 net up 25.11%

NEW DELHI: Navratna Public Sector enterprise NBCC (India) Ltd, under the Ministry of Housing and Urban Affairs (MOHUA), has reported a strong April-june quarter with a consolidated net profit growth of 25.11 per cent from the same period of last year.

For the quarter ended June 30, 2018, the company has reported a consolidated net profit of Rs. 76.65 crore as against net profit of Rs. 61.26 crore during the corresponding quarter of the previous fiscal, representing a robust growth of 25.11 per cent.

Consolidated total income for the reporting quarter stands at Rs. 1,898.13 crore, up 19.56 per cent YOY. The total standalone income for Q1FY19 stood at Rs. 1,671.33 crore as compared to Rs. 1,286.31crore in Q1FY18, registering an increase of 29.93 per cent.

Commenting on the results, Dr. Anoop Kumar Mittal, CMD, NBCC, said, “Operational efficiencies along with the Government's initiative to foster infrastructure growth in the country has enabled NBCC to report a strong growth for the first quarter of this fiscal. During the quarter, NBCC bagged projects from various ministries and government departments.”

NBCC has recently been awarded a Rs 400 crore contract to build the Indian Pavilion for Dubai Expo 2020. The total outstanding order book currently stands at Rs. 80,000 crores rupees. The company also bagged projects like AIIMS Bilaspur, PMGSY Works, Skill Development Institute (SDI) Bhubaneswar, Convention Centres in African Countries during the April-june FY2019 period.