NLC India's Q1 Performance Reflects a Dip in Net Profit and Revenue

31 Jul 2023 , 01:19 PM

NLC India shares witnessed a significant decline of 6.43 % in early trade on July 31 following the company’s disappointing financial results for the June quarter.

The company’s net profit for the quarter experienced a substantial 27.2 % year-on-year decline, amounting to Rs 413.57 crore. Moreover, the net profit plummeted by 50.5 % sequentially from the Rs 836.59 crore reported in Q4FY23.

NLC India reported a 14.1 % year-on-year decline in revenue from operations for Q1FY24, which stood at Rs 3,316.5 crore compared to Rs 3,862.9 crore in the corresponding period last year.

Sequentially, the revenue experienced a substantial 35.4 % decline from Rs 5,134.04 crore reported in the March quarter. The company’s operating profit margins for Q1FY24 remained flat at 36 % compared to the previous year, based on data.

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