NBCC Q2 net profit up 31 pc at Rs 81 cr

Lawrence Kim
November 14, 2017

"As a result of continued focus on value added products and efficiencies in cost structure, net profit for the quarter ended September 30, 2017 of Rs 42.9 crores has increased by 24 per cent over the corresponding period previous year", the company said in a statement.

The bank's net non-performing assets (NNPA) increased to Rs. 7,279.6 crore in this period against Rs. 7,185.2 crore NNPA in the second quarter of fiscal 2017, the bank said in a statement.

In absolute value, gross NPAs were Rs 46,306.83 crore during the quarter against Rs 42,949.25 crore.

Total expenses during the period were Rs12,354.92 crore against Rs8,186.11 crore in the year ago quarter.

"In compliance with RBI".

The bank's asset quality worsened further in the September quarter of the current fiscal.

In quarterly terms as well, the net profit of NBCC increased to Rs 66.51 crore in the July to September period this year, compared with Rs 61.85 crore in the same period last year.

Revenue fell by about one per cent to Rs 12,409.65 crore.

Total consolidated income during the quarter stood at Rs13,935.18 crore.

Shares of the company settled 0.26 per cent up at Rs 456.45.

Other reports by Click Lancashire

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