NBCC jumps 3% on strong Q2 numbers
NEW DELHI: Shares of NBCC India jumped nearly 3 per cent in Wednesday’s trade after the realtor reported 31.33 per cent YoY surge in consolidated net profit at Rs 81.24 crore for the September quarter.
Following the announcement, the stock rose 2.72 per cent to hit a high of Rs 277.60 on BSE.
The company though reported a 16.22 per cent YoY fall in total income to Rs 1,363.58 crore for the quarter.
On a standalone basis, net profit rose 10.30 per cent to Rs 74.12 crore compared with Rs 67.20 crore in the year-ago quarter. Standalone sales declined 7.18 per cent to Rs 1,128.43 crore from Rs 1,215.73 crore in the same quarter last year.
Meanwhile, banks and financial institutions have approached state-run real estate developer to develop some of the land assets that have been pledged with them by the promoters of defaulting firms.
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Via:: Economic Times – Stocks