Shares of Satellite Services Firm Nelco fell 3.4 percent in early trade on April 24 on the NSE, a day after the company reported a 7 percent year-on-year increase in net profit for Q4FY24. At 11am, the stock was trading at Rs 778.95.
Follow our market blog for live updates
In a regulatory filing, Nelco reported Rs 6.1 crore net profit, while revenue from operations fell 0.5 percent to Rs 81.6 crore. In Q3FY24, the company reported a revenue of Rs 82 crore. Earnings before interest, taxes, depreciation and amortisation for the reporting period increased by 12.5 percent from Rs 16.8 crore in Q3FY24 to Rs 14.7 crore in Q4FY24.
The company's EBITDA margin for the period was 18 percent against 20.5 percent in the previous fiscal.
According to a filing, the board of directors has also recommended a final dividend of Rs 2.20 per share for the financial year ended March 31, 2024. This will be subject to the approval of the shareholders.
A Tata Group company, Nelco, offers solutions for VSAT connectivity, Satcom Projects and Integrated Security & Surveillance Solutions. Shares of Nelco have gained around 48 percent over the last one year and around 140 percent in the last five years.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
