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Nesco - On Course For Recovery: ICICI Direct

Nesco - On Course For Recovery: ICICI Direct

<div class="paragraphs"><p>Nesco Ltd. (Source: company website)&nbsp;</p></div>
Nesco Ltd. (Source: company website) 

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ICICI Direct Report

Nesco Ltd. has had a muted FY21 and H1 FY22 but is looking towards recovery with improved occupancy at IT park and gradual pick-up in the exhibition business.

In Q2 FY22, reported revenues were up 26% YoY at Rs 80.8 crore. The IT park revenues were up 18% YoY at Rs 65.2 crore while exhibition revenues remained marginal.

Ebitda at Rs 50.3 crore, was up 62.3% YoY while profit after tax at Rs 44 crore was up 54% YoY.

Nesco's overall occupancy at Tower-four was at ~90% (versus 75% in FY21) while IT Tower-three is at ~80% occupancy levels, with a gradual recovery likely.

Click on the attachment to read the full report:

ICICI Direct Nesco Company Update.pdf

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