NBCC's Profit Soars by 59% in Q3 as Income Surges

NBCC (India) Ltd, the government-owned corporation, witnessed a significant rise in its financial fortunes with a 59% surge in its net profit, tallying up to Rs 113.56 crore for the quarter ending December 2023. This notable increase comes as a result of an upswing in total income, compared to the same quarter in the previous year.

Substantial Growth in Income

The company's total income experienced an uplift, reaching Rs 2,471.51 crore during the third quarter of the current fiscal year, showing a robust growth from Rs 2,191.24 crore recorded during the equivalent period in the previous year. This positive trend in revenue is outlined in the details provided by a regulatory filing by the company.

A Successful Nine-Month Period

Focusing on the nine-month period leading up to December, NBCC's performance remained strong. The company's net profit ascended to Rs 272.88 crore, escalating from Rs 164.37 crore in the year-ago period. This period also saw an increase in total income, which rose to Rs 6,566.41 crore, up from Rs 6,118.38 crore in the corresponding period of the previous fiscal year. NBCC's operations primarily revolve around Project Management Consultancy (PMC) and its real estate ventures, which have shown substantial growth.

NBCC, Profit, Income