Navratna stock below Rs 50 reports an impressive jump of 176 per cent in net profit; watch out!
The stock gave multibagger returns of over 140 per cent in just 3 years
NBCC (India) Limited is a Navratna Government of India Enterprise under the Ministry of Housing and Urban Affairs. The company operates in three key segments: project management consultancy, engineering procurement and construction, and real estate.
For Q4FY23 the company’s net sales increased by 14.21 per cent from last year’s same quarter to Rs 2,732.41 crore. The profit after tax witnessed a significant increase of 186.11 per cent on YoY basis, amounting to Rs 1,508.9 crore. Furthermore, company’s net profit showed a massive jump of 176.45 per cent from corresponding quarter last year, reaching Rs 1,136.3 crore. This remarkable performance reflects restored economic confidence as well as the realisation of strategic actions implemented in recent quarters.
In fiscal year 2023, the company’s net sales stood at Rs 8,648 crore, witnessed a growth of 14.16 per cent on YoY basis from FY22. Similarly, the net profit zoomed by 16.84 per cent from last year to Rs 2,780 crore. The company announced dividend of 0.54 per cent per share on the face value of Rs 1 per share for financial year 2022-2023.
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On Wednesday, the shares of NBCC Ltd plunged by 3.63 per cent trading at Rs 42.10 per share on BSE. The stock gave multibagger returns of over 140 per cent in just 3 years. Keep a close eye on this civil construction Mid-Cap company.