Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

NBCC India Shares Plunge 14% as Real Estate Business Drags Q1 Results

At 10:57 am, the NBCC stock was trading at Rs 35.60, down 10.4%, on BSE after hitting an intra-day low of Rs 34.05, its 52-week low. The stock has corrected nearly 50% in the last one year.

Trending Desk

Updated:August 9, 2019, 11:53 AM IST
facebookTwitterskypewhatsapp
NBCC India Shares Plunge 14% as Real Estate Business Drags Q1 Results
(Image for Representation)
Loading...

NBCC (India) Ltd shares plunged as much as 14% in intraday trade on Friday, i.e. 9 August, after the company posted disappointing set of numbers for the first quarter ended June (Q1).

At 10:57 am, the NBCC stock was trading at Rs 35.60, down 10.4%, on BSE after hitting an intra-day low of Rs 34.05, its 52-week low. The stock has corrected nearly 50% in the last one year.

NBCC said its net profit in the June quarter declined 39% year-on-year to Rs 51 crore against Rs 82.85 crore in the year-ago period.

Brokerage house ICICI Direct had earlier said it was expecting NBCC to report a net profit of Rs 75.5 crore in the June quarter.

The company reported a total consolidated net income of Rs 1,941.73 crore for the June quarter, down 16% from Rs 2,307.81 crore recorded

in the same quarter last year.

NBCC’s operational revenue during the June quarter also fell 16% to Rs 1,886 crore from Rs 2,252 crore a year ago mainly dented by the its real estate business. The realty division’s revenue was down by a whopping 96% to Rs 5 crore from Rs 130 crore in the year-ago quarter, while profit before tax and interest was a tepid Rs 14 lakh compared with Rs 68 crore.

The NBCC board also recommended a final dividend of Rs 0.65 per equity share on a face value of Rs 1 per equity share for FY19.

NBCC (India) is a public sector company with operations organized into three market focused segments: project management consultancy, engineering procurement and construction (EPC) and real estate.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Ahona Sengupta
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
20 Microns 34.15 -2.01
Hexaware Tech 379.15 -2.10
Atul 3,623.05 0.65
Amrutanjan Heal 287.90 -0.81
Company Price Change %Gain
Reliance ETF PS 276.32 -2.61
ABB India 1,364.25 -0.79
Aegis Logistics 202.10 3.61
Amara Raja Batt 619.95 -0.67
Ambalal Sarabha 12.26 -1.45

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results