Market News / All News /NBCC board approves 1:2 bonus issue

NBCC board approves 1:2 bonus issue

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All News : Aug 31, 2024 | 12:00 AM

The board of directors has fixed 7 October 2024 as record date to determine the eligibility of members to receive bonus shares. The bonus issue is subject to approval of the shareholders.

The bonus equity shares will be issued out of free reserves created out of profits and available as per audited financial statements on 31 March 2024. The company's reserves & surplus stood at Rs 1,959 crore as on 31 March 2024.

The bonus shares would be credited/dispatched within two months from the date of approval of board i.e. by 31 October 2024.

NBCC (India) is in business of operates into three major segments namely project management consultancy, real estate and engineering procurement & construction.

The company's consolidated net profit jumped 39.2% to Rs 104.62 crore in Q1 FY25 as compared with Rs 75.14 crore in Q1 FY24. Net sales increased 10.7% YoY to Rs 2118.68 crore in Q1 FY25.

The scrip ended 4.29% to lower at Rs 186.35 on Friday, 30 August 2024.

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