Nesco reports 26 per cent YoY growth in revenue

Nesco’s consolidated revenue for the fourth quarter of FY20 was up by 25.9 per cent YoY to Rs 117.75 crore. This was primarily due to 86 per cent YoY jump in the IT Park revenue.

EBITDA for the quarter rose by 9.4 per cent YoY to Rs 71.3 crore with a corresponding margin contraction of 917 bps while, EBITDA margin for the quarter stood at 60.5 per cent. This margin contraction was led by higher other expenses in proportion to revenue.

With a weak operating performance, PAT for the period grew marginally by 3.1 per cent YoY to Rs 52.9 crore.

The company’s consolidated revenue for FY20 increased by 19.6 per cent to Rs 431.7 crore from Rs 360.1 crore in FY19.

The company continued to be debt-free with liquid resources of Rs 685.66 crore as on March 31, 2020, after having spent about Rs 570 crore on construction of tower 4 in Nesco IT Park and also, for upgrading the existing exhibition centre halls.