Nesco (505355) Q3 23/24 earnings summary

Executive summary

• Consolidated total income for 9M FY24 rose 30.57% YoY to ₹563.43 crore; PAT increased 25.25% to ₹257.62 crore.

• Q3 FY24 total income grew 26.16% YoY to ₹204.61 crore, while PAT rose 33.78% to ₹93.75 crore.

• Performance gains included strong growth at Bombay Exhibition Centre and Nesco Foods; operations remained debt-free with liquid resources above ₹1,471 crore at Dec. 31, 2023.

Financial highlights

• Consolidated 9M revenue from operations was ₹489.21 crore versus ₹388.77 crore YoY; other income was ₹74.22 crore versus ₹42.77 crore.

• Consolidated 9M PBT was ₹326.94 crore versus ₹257.94 crore YoY; PAT was ₹257.62 crore versus ₹205.68 crore.

• Consolidated Q3 revenue from operations was ₹177.76 crore versus ₹142.83 crore YoY; other income was ₹26.85 crore versus ₹19.35 crore.

• Consolidated Q3 PBT was ₹120.97 crore versus ₹90.14 crore YoY; PAT was ₹93.75 crore versus ₹70.08 crore.

Segment performance

• 9M IT Park revenue was ₹236.39 crore versus ₹222.68 crore YoY; Bombay Exhibition Centre revenue rose 35.56% to ₹146.31 crore.

• 9M Foods revenue increased 152.04% YoY to ₹70.27 crore; Indabrator revenue rose 19.72% to ₹36.24 crore.

• Q3 IT Park revenue was ₹80.06 crore versus ₹77.63 crore YoY; Bombay Exhibition Centre revenue was ₹59.31 crore versus ₹38.01 crore.

• Q3 Foods and Indabrator revenue was ₹26.53 crore and ₹11.86 crore, respectively.