NBCC reports strong first quarter earnings

Q1FY19 Consolidated Revenue up by 19.56% YOY; Net Profit up 25.11% YOY

New Delhi, 14^th August, 2018: 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% from the same period of last year.

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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%.

Consolidated total income for the reporting quarter stands at Rs. 1,898.13 crore, up 19.56% 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%.

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.

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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.