Nelco stock: Nelco, a satellite services firm, witnessed a 3.4 percent decline in its shares during early trading on April 24 on the NSE. This drop followed the company’s announcement of a 7 percent year-on-year rise in net profit for Q4FY24. By 11 am, the stock was being traded at Rs 778.95.
In a regulatory filing, Nelco disclosed a net profit of Rs 6.1 crore, whereas revenue from operations experienced a 0.5 percent decline to Rs 81.6 crore. Comparatively, in Q3FY24, the company recorded a revenue of Rs 82 crore. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the reporting period rose by 12.5 percent, increasing from Rs 16.8 crore in Q3FY24 to Rs 14.7 crore in Q4FY24. -Nelco stock
During the period, the company’s EBITDA margin stood at 18 percent, down from 20.5% during the preceding fiscal year.
As per a filing, the board of directors has proposed a final dividend of Rs 2.20 per share for the fiscal year ending March 31, 2024. The approval of shareholders will be required for this recommendation to be implemented.
Nelco, a subsidiary of the Tata Group, specializes in providing solutions for VSAT connectivity, Satcom Projects, and Integrated Security & Surveillance Solutions. The company’s shares have surged approximately 48 percent over the past year and around 140 percent over the last five years.
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