NBCC reports 15.14 % rise in profit for FY19
New Delhi: NBCC (India) Ltd., the State-owned Navratna CPSE under the Ministry of Housing and Urban Affairs, has announced its Audited Finance Results for the quarter and financial year ended March 31, 2019.
For the financial year ended March 31, 2019, the company has reported standalone net profit of Rs. 384.11 crore as against net profit of Rs. 333.60 crore during the previous financial year, representing a healthy growth of 15.14 per cent.
The standalone total income for the financial year 2018-19 stood at Rs. 7432.22 crore as compared to Rs. 6011.14 crore in the previous year, seeing a growth of 23.64 per cent.
The consolidated total income for FY2018-19 stood at Rs 10151.37 crore as compared to Rs 8609.62 crore in the previous financial year.
For the quarter ended March 31, 2019, the Company's standalone total income stood at Rs. 2424.09 crore as against Rs. 2223.32 crore of Q4 of the previous year. The net profit for the period stood at Rs. 152.75 crore as compared to Rs. 141.65 crore in the corresponding quarter in the previous year. Commenting on the results, Rajendra Chaudhari, Director (Commercial), NBCC said, "The financial performace of the company is very encouraging going forward. In the FY19-20, we shall be extra determined and fast track our steps to successfully accomplish a strong market share growth as well as enhance our topline & bottomline numbers while fulfilling the expectations riding on NBCC by the government, our stakeholders and the citizens."
Commenting on the results, Neelesh Shah, Director (Projects), NBCC said, "It is heartening that we have sustained the performance trajectory of the company and achieved commendable results in the past year." A preferred partner of the Government for infrastructure projects, NBCC's 93 per cent of business revenue comes under PMC segment which has grown by leaps and bounds, touching an order book of more than Rs. 85,000 crore. During FY19, NBCC bagged various projects like AIIMS- Bilaspur & Jharkhand, IIM-Ranchi &Vishakhapatnam, IIT Bhubhneshwar, redevelopment of WHO Office, projects under Central govt schemes of PMGSY & Namami Gange and other projects in different Indian states.
