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Slowdown Blues: NBCC Q4 profit down 7% to Rs 142.45 crore

Total income during the March quarter rose to Rs 3,193.62 crore from Rs 2,987.03 crore in the corresponding period of the previous year

twitter-logo PTI        Last Updated: May 31, 2019  | 00:33 IST
Slowdown Blues: NBCC Q4 profit down 7% to Rs 142.45 crore

State-owned NBCC Ltd Thursday reported a 7 per cent decline in consolidated net profit to Rs 142.45 crore for the quarter ended March 31, 2019.

Its net profit stood at Rs 153.37 crore in the year-ago period, the company said in a regulatory filing.

Total income during the March quarter rose to Rs 3,193.62 crore from Rs 2,987.03 crore in the corresponding period of the previous year.

For 2018-19, net profit fell marginally to Rs 391.63 crore from Rs 395.72 crore in 2017-18.

Total income rose to Rs 10,151.36 crore in 2018-19 from Rs 8,609.62 crore in the previous year.

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NBCC Director (Commercial) Rajendra Chaudhari termed the financial performance as encouraging.

"In the financial year 2019-20, we shall be extra determined and will fast track our steps to successfully accomplish a strong market share growth as well as enhance our topline and bottomline numbers while fulfilling the expectations riding on NBCC by the government, our stakeholders and the citizens," he added.

"We have sustained the performance trajectory of the company and achieved commendable results in the past year," NBCC Director (Projects) Neelesh Shah said.

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The National Buildings Construction Corporation (NBCC) said 93 per cent of its business revenue comes from Project Management Consultancy (PMC) segment which has grown by leaps and bounds, touching an order book of more than Rs 85,000 crore.

The total value of projects won from April 2018 to March 2019 is Rs 12,427.42 crore.

During the last financial year, NBCC also forayed into large-scale residential projects by submitting Resolution Plan (RP) to acquire debt-ridden Jaypee Infratech Ltd, so as to deliver houses for around 22,000 aggrieved homebuyers.

ALSO READ:Slowdown Blues: SAIL Q4 net profit falls 42% to Rs 468 crore

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