+
BigBloc Construction's net profit dips in Q4 FY23
Concrete

BigBloc Construction's net profit dips in Q4 FY23

The net consolidated profit of BigBloc Construction, a producer of aerated autoclaved concrete (AAC) blocks, bricks, and panels, fell by 25.80% during the three months ending March 31, 2023. The company said in a BSE filing that its profit after tax decreased to 55.5 million in Q4 FY23 from 74.8 million in the equivalent period of the previous fiscal.

The company's net consolidated total income for the fourth quarter of FY23 was 472.3 million, down 11.04 percent from the 530.9 million it reported for the same quarter in FY22.

For the fiscal year 2022–2023, the board of directors has recommended a 20% dividend, or Rs 0.40 per share, on the face value of Rs 2 per share.

According to the regulatory filing, the combined capacity utilisation for the most recent quarter was close to 80%.

In order to address the rising demand for AAC blocks in Western India, the company's wholly-owned subsidiary Bigbloc Building Elements has started commercial production of a 5-lakh cubic metre (cbm) per annum AAC Block factory at Wada in Palghar, Maharashtra. When operating at full capacity, the Wada facility will employ between 350 and 400 people and produce 200 crore rupees in revenue annually.

The net consolidated profit of BigBloc Construction, a producer of aerated autoclaved concrete (AAC) blocks, bricks, and panels, fell by 25.80% during the three months ending March 31, 2023. The company said in a BSE filing that its profit after tax decreased to 55.5 million in Q4 FY23 from 74.8 million in the equivalent period of the previous fiscal. The company's net consolidated total income for the fourth quarter of FY23 was 472.3 million, down 11.04 percent from the 530.9 million it reported for the same quarter in FY22. For the fiscal year 2022–2023, the board of directors has recommended a 20% dividend, or Rs 0.40 per share, on the face value of Rs 2 per share. According to the regulatory filing, the combined capacity utilisation for the most recent quarter was close to 80%. In order to address the rising demand for AAC blocks in Western India, the company's wholly-owned subsidiary Bigbloc Building Elements has started commercial production of a 5-lakh cubic metre (cbm) per annum AAC Block factory at Wada in Palghar, Maharashtra. When operating at full capacity, the Wada facility will employ between 350 and 400 people and produce 200 crore rupees in revenue annually.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Assam Gets Approval For 350,000 PMAY Homes

Assam Chief Minister Himanta Biswa Sarma met Union Agriculture Minister Shivraj Singh Chouhan in New Delhi, where the minister handed an approval document for 310,000 new homes under the Pradhan Mantri Awas Yojana. The chief minister subsequently posted on X expressing gratitude and noting that the minister had formally handed approval for 380,000 homes as well. The release and the social media post contained varying figures, with broader references to 350,000 homes reported in some summaries. The approvals carry central assistance equivalent to Rs 50 billion (bn), corresponding to the five th..

Next Story
Infrastructure Urban

KPIGreen Achieves Highest Energised Capacity of 630+ MW DC

KPI Green Energy energised more than 630 MW DC of capacity in the June to August quarter, marking the highest quarterly addition in the company's history. The capacity was brought online across its Independent Power Producer (IPP) and Engineering, Procurement and Construction (EPC) businesses. The company said the achievement reflected the scale, speed and consistency of its project execution engine. The firm described the quarter as a material operational milestone since its founding. The milestone covers a diversified mix of IPP assets and projects executed under the EPC vertical, spanning u..

Next Story
Infrastructure Energy

Adani Energy Solutions Wins Rs 47 bn Maharashtra Transmission Project

Adani Energy Solutions has won a transmission contract in Maharashtra valued at Rs 47 billion (Rs 47 bn) to evacuate 4,500 megawatt (MW) of renewable and storage power. The company informed exchanges that the project will facilitate pumped storage potential near Satara and strengthen the inter-regional corridor between the Western and Southern grids. The award follows a competitive bidding process and will support renewable energy evacuation to major load centres in the state. The scope includes establishment of a 765/400 kV substation at Satara, construction of a Kolhapur-Satara 765 kV double..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code