 "Fresh bid boosts NBCC confidence to bag beleaguered Jaypee Infratech")
NBCC stock rises: Stocks of construction company NBCC soared as much as 5.07 per cent to hit an intraday high of Rs 145.85 per share, on Wednesday.
The surge came after the company announced a strong set of March quarter (Q4FY24) results.
The State-owned company’s profit rose 24.6 per cent on a year-on-year (Y-o-Y) basis to Rs 141.5 crore in the March quarter of financial year 2024 (Q4FY24), from Rs 113.6 crore in the same quarter a year ago (Q4FY23).
NBCC’s revenue zoomed 43 per cent annually to Rs 4,025 crore in Q4FY24, from Rs 2,814 crore in the same quarter last year (Q4FY23).
At the operating front, earnings before interest, taxes, depreciation and amortisation (Ebitda), also known as operating profit, more than doubled to Rs 240.2 crore in Q4FY24, from Rs 104.5 crore in Q4FY23.
Ebitda margin, meanwhile, surged 230 basis points (bps) to 6 per cent in the March quarter of financial year 2024, from 3.7 per cent in the MArch quarter of the financial year 2023.
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NBCC’s board of directors have recommended a final dividend of Rs 0.63 per paid-up equity share of Rs 1 each for FY24, subject to approval of shareholders in the ensuing annual general meeting. “The final dividend (if declared) would be paid within 30 days from the date of declaration at the AGM,” the company said in an exchange filing.
NBCC is a construction company. It provides project management consultancy, real estate, engineering procurement, construction, civil engineering, and redevelopment. NBCC also provides water treatment plants, water supply networks including raw water mains, and solid waste management
The 52-week high of the stock is Rs 176.50 per share while its 52-week low is Rs 38.10 per share. The market capitalisation of NBCC is Rs 25,425 crore, according to Bombay Stock Exchange.
At 11:07 AM, shares of NBCC were trading 1.62 per cent higher at Rs 141.05 per share. By comparison, S&P BSE Sensex was trading 518 points or 0.69 per cent at 74,651.76 levels.
