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Nirmal Bang Report
Nesco Ltd. reported revenue of Rs 751 million, down 36% YoY and 9% QoQ.
Nesco IT Park’s revenue stood at Rs 615 million, down 4.2% YoY and QoQ.
Nesco IT Park’s revenue declined on QoQ and YoY basis because of shifting of some tenants from tower 3 (0.67 million square feet) to tower 4 (1.20 million square feet).
The company reported Ebitda of Rs 475 million, down 33% YoY and 10% QoQ while Ebitda margin expanded by 278 basis points YoY to 63.3%.
The decline in Ebitda on YoY basis was primarily because of decline in revenue, rise in the cost of materials and decrease in the inventory of finished goods, work in progress and stock-in-trade.
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