Nesco Q4 Review - Second Wave Of Covid-19 Puts Pressure On Revenue: Nirmal Bang

Employees work in the control center at the Goregaon NESCO jumbo Covid centre in the Goregaon suburb of Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Nesco Q4 Review - Second Wave Of Covid-19 Puts Pressure On Revenue: Nirmal Bang

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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.

Click on the attachment to read the full report:

Nirmal Bang NESCO- Q4FY21 Result Update- 31 May 2021.pdf

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