NLC India Q1 Results: Profit Up 37%, Beats Estimates

NLC India Ltd. on Wednesday reported a 37% year-on-year advance in net profit for the first quarter of this financial year, beating analysts' estimates.

The public sector enterprise recorded a net profit of Rs 566.69 crore for the quarter-ended June, as compared to Rs 413.57 crore over the same period last year, according to its stock exchange notification. This was above the Rs 476-crore estimate by analysts tracked by Bloomberg.

Revenue increased by 1.8% year-on-year for the three months-ended June, reaching Rs 3,376.05 crore. Analysts had projected revenue of Rs 3,868 crore.

Operating income, or earnings before interest, taxes, depreciation, and amortisation, fell 9% year-on-year to Rs 1,082.05 crore. The Ebitda margin contracted to 32.1% from 36% over the same period last year. Analyst estimates for Ebitda and Ebitda margin tracked by Bloomberg were Rs 1,339 crore and 34.60%, respectively.

Shares of the company closed 6.21% higher at Rs 270.15 apiece, as compared to a 1.27% advance in the NSE Nifty 50. The stock has risen 7.97% year-to-date and 125.41% over the past 12 months.