NBCC hits 52-week low post Q1 results; stock down 13%

The state-owned company reported a 39 percent decline in consolidated net profit for the quarter ended June 30 at Rs 51 crore.

NBCC plunged as much as 13.7 percent in the morning trade on August 9. The stock hit its 52-week low of Rs 34.35 on the BSE after the state-owned company reported a 39 percent decline in consolidated net profit for the quarter ended June 30.

The company reported a net profit of Rs 51 crore, against s 82.85 crore in the year-ago period.

The company reported a total consolidated net income of Rs 1,941.73 crore for the June quarter, a dip of 16 percent from Rs 2,307.81 crore recorded in Q1FY19.

At 1000 hrs, NBCC was trading 12 percent lower at Rs 34.90. It hit a 52-week low of Rs 34.35, and peaked at Rs 38.50 so far in trade today.