NBCC reports Q1 net profit at Rs. 61 crore, surges 37%
The consolidated net profit of the state-owned construction company National Buildings Construction Corp (NBCC) rose 37%. The net profit was reported at Rs 61.26 crore for the quarter ended June, compared with Rs 44.70 crore in the same period last year.
On quarterly basis, however, the consolidated net profit of the company dropped by 64.27% in the April to June period. NBCC had reported a profit of Rs 171.47 crore in the January to March quarter.
Total income for the company dropped 0.8% at Rs 1,587.55 crore in the April to June period, against Rs 1,600.80 crore in the same period last year.
The company in its institutional investor/analyst meeting on July 26 had said it is focusing on large size projects instead of small value projects for achieving cost consolidation and economies of scale in terms of manpower capacity and overheads. “As a result, company’s order book has grown many folds with various large value projects in last few quarters,” the company had said.
NBCC secured a total business of about Rs 131 crore in July. It had secured a total business of about Rs 630 crore in June this year.