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Revenue from operations declined 3.53% to Rs 78.80 crore in Q1 FY24 as compared with Rs 81.68 crore in corresponding quarter last year.
Profit before tax jumped 20.84% year on year to Rs 8.06 crore in quarter ended 30 June 2023.
Total expenses fell 4.07% to Rs 64.36 crore in the first quarter as compared with the same period last year. Total finance cost, depreciation and amortization was Rs 6.76 crore (down 17.66% YoY) for Q1 FY24
NELCO, a part of the $128 bn Tata Group, is a leading satellite communication service provider in India, providing highly reliable data connectivity solutions across the country for the enterprise, aero IFC and maritime sectors.
The scrip declined 2.68% to Rs 829.25 on the BSE.
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