Q1 FY25: NBCC (India)'s net profit up 38.47%

14 Aug 2024 CW Team

NBCC (India) has reported a growth of 38.47 per cent in its net consolidated profit during the quarter ended June 30, 2024. It had registered profit after tax of Rs 1.07 billion in Q1 FY25 as against Rs 774.1 million. It recorded in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

During the quarter ended June 30, 2024, the group has spent total amount Rs 1.69 billion. Group has written down inventory amounting to Rs 1.34 billion excess of amount paid Rs 1.46 billion over proportionate value of units/flats Rs 117.6 million(lower of cost or net realizable value (NRV)) in the quarter ended on June 30, 2024 and equivalent provision on Rs 1.34 billion as was created in earlier year for buyback of flats/units has been reversed.

Further, during the quarter ended June 30, 2024, the group has spent total amount Rs 65.18 lakh (Rs 46.68 lakh towards rental & Rs 18.50 lakh towards construction cost for reconstruction of flats/units) and equivalent provision as was created in earlier year for reconstruction of flats/units has been reversed.

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