NBCC's arm bags Rs 528 crore procurement order for university in Haryana
PSU stock NBCC (India) Ltd has announced that its wholly-owned subsidiary HSCC (India) Ltd. recently bagged an order worth Rs 528.21 crore from the Directorate of Medical Education and Research in Haryana.
As per the order, the company will procure bio-medical equipment and hospital furniture for Pt. Deen Dayal Upadhayaya University of Health Sciences in Karnal. This is the third order that the state-run company has won in the last one week.
NBCC also reported its June quarter earnings where its net profit increased by 38.5% to Rs 107.2 crore, while its revenue went up by 11.3% to Rs 2,144.2 crore. The company's earnings before interest, tax, depreciation, and amortization (EBITDA) rose 60.6% to Rs 91.7 crore and the EBITDA margin expanded to 4.3% from last year's 3%.
Read Also : RBI imposes monetary penalty on HDFC Bank LimitedThe company's total income rose to Rs 2,197.83 crore in the April-June quarter of this fiscal from Rs 1,974.03 crore in the corresponding period of the previous year, according to a regulatory filing.
NBCC shares were trading 1.99% higher at Rs 176.67 apiece at 11.40 am on Wednesday. The stock has gained 115.71% this year, so far, but is still down 6.6% in the last one month.
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