Shares of NBCC (India) Limited rose 4% in morning trade on May 30 after releasing strong fourth-quarter results. Shares of NBCC (India) Ltd were trading 3.57% higher at Rs 43.40 on the NSE at 9:17 am.

On Monday, state-owned NBCC (India) Ltd posted a consolidated net profit of Rs 108 crore for the March quarter. This was 205% higher than Rs 35.39 crore a year ago, the company statement said. The company’s operating income rose 14.28% to Rs 2,790 crore in the March quarter from Rs 2,441 crore a year earlier.

In the regulatory filing, the company further stated that “the board of directors has recommended a final dividend of Rs 0.54 per equity share (subject to deduction of TDS) on the face value of paid-up equity shares of Rs 1 per share for FY22-23 is subject to the approval of the shareholders in the meeting.

In April 2023, NBCC (India) Ltd said it had signed a Memorandum of Understanding with SIDBI for its property development work across India. The MoU was signed by NBCC’s CGM (Engg) Pradeep Sharma and SIDBI’s deputy managing director Manas Ranjan Hati in the presence of senior officials from both parties, the company said in a statement.

Shares of NBCC (India) Limited have significantly underperformed the benchmark Nifty50 Index over the past 5 years, losing 51.73% in market value. This compares with a return of 74.07% for the benchmark Nifty50 index over the same period.