Net profits took a steep dip of 52 per cent in Q4 FY22- NBCC

The company’s total consolidated income dipped by 10.59 per cent and stood at Rs 2,496.44 crore in Q4 FY22 as against Rs 2,792 crore in the similar quarter last year.

For the quarter ending March 2022, NBCC has reported 52.23 per cent decrease in its net consolidated profit. The company’s profit after tax (PAT) is recorded at Rs 41.10 crore in Q4 FY22 as per BSE filing. NBCC recorded PAT at Rs 86.03 crore in the corresponding quarter of the previous fiscal.

The company’s total consolidated income dipped by 10.59 per cent at Rs 2,496.44 crore in Q4 FY22 as against Rs 2,792 crore in the similar quarter last year.

After the announcement of lower net profits for the year, the board of directors have suggested final dividend at 50 per cent, which means Rs 0.50 per equity share on the face value of the paid-up equity shares of Rs. 1 per share for the FY 2021-22. This recommendation is subject to approval of shareholders.

NBCC has recently completed construction of a group housing real estate project at Kochi, with 3.20 lakh sq. ft. residential and 4.4K sq. ft. commercial area. The construction cost for the project stood at Rs 87.01 crore thereon up to March 31, 2022. The sale in the project is pending for want of environmental clearance (EC), it said in the regulatory filing.

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