Shares of NBCC (India) climbed as much as 11 per cent on the BSE on Tuesday, a day after the company announced its March quarter results for the financial year 2019-20 (FY20).
At 09:58 am, the stock was trading around 7 per cent higher at Rs 26.95 on the BSE. In comparison, the S&P BSE Sensex was trading flat at 36,544.52 levels, up just 0.16 per cent.
For the quarter under review, the company's standalone net profit declined 68.24 per cent to Rs 48.52 crore as against Rs 152.75 crore in the year-ago period. Sales declined 33.29 per cent to Rs 1,569.57 crore as against Rs 2,353 crore in the corresponding quarter of the previous fiscal.
For the full year, net profit declined 79.21 per cent to Rs 79.87 crore in the year ended March 2020 as against Rs 384.11 crore in the previous year. Sales declined 27.47 per cent to Rs 5,179.72 crore.
On a consolidated basis, net profit slipped 41 per cent to Rs 83.77 crore while net sales stood at Rs 2,568.73 crore, down 16.8 per cent YoY.
Further, the Board of Directors has recommended a final dividend of nearly Rs 0.135, ie 13.5 per cent per paid-up equity share of Re 1 each for the financial year 2019-20.
The company noted that the spread of the Covid-19 pandemic has severally impacted businesses around the globe and it had temporarily suspended its operations when the government announced a nationwide lockdown on March 23. Due to this, the operations for the month of March were partially impacted, it said.
"The group's management has made an initial assessment of likely adverse impact on revenues and believes that the impact on revenues is likely to be short term in nature. The group continues to closely monitor any material changes arising out of future economic conditions and impact on its business. The management does not see any risk in the ability of the group to continue as a going concern and meeting its liabilities as and when due," it said in its press release.
At 09:58 am, the stock was trading around 7 per cent higher at Rs 26.95 on the BSE. In comparison, the S&P BSE Sensex was trading flat at 36,544.52 levels, up just 0.16 per cent.
For the quarter under review, the company's standalone net profit declined 68.24 per cent to Rs 48.52 crore as against Rs 152.75 crore in the year-ago period. Sales declined 33.29 per cent to Rs 1,569.57 crore as against Rs 2,353 crore in the corresponding quarter of the previous fiscal.
For the full year, net profit declined 79.21 per cent to Rs 79.87 crore in the year ended March 2020 as against Rs 384.11 crore in the previous year. Sales declined 27.47 per cent to Rs 5,179.72 crore.
On a consolidated basis, net profit slipped 41 per cent to Rs 83.77 crore while net sales stood at Rs 2,568.73 crore, down 16.8 per cent YoY.
Further, the Board of Directors has recommended a final dividend of nearly Rs 0.135, ie 13.5 per cent per paid-up equity share of Re 1 each for the financial year 2019-20.
The company noted that the spread of the Covid-19 pandemic has severally impacted businesses around the globe and it had temporarily suspended its operations when the government announced a nationwide lockdown on March 23. Due to this, the operations for the month of March were partially impacted, it said.
"The group's management has made an initial assessment of likely adverse impact on revenues and believes that the impact on revenues is likely to be short term in nature. The group continues to closely monitor any material changes arising out of future economic conditions and impact on its business. The management does not see any risk in the ability of the group to continue as a going concern and meeting its liabilities as and when due," it said in its press release.
No comments:
Post a Comment