Nitco Limited — Important, 13-11-2024: Financial Result Updates

NITCO Limited has announced a board meeting regarding its un-audited consolidated financial results for the quarter and half-year ended September 30, 2024.

**Consolidated Revenue** for Q2 stands at ₹6,601.25 crore (cr), a decline of 18.0% YoY, reflecting decreased demand. **Total Income** is reported at ₹6,747.46 cr. Operational expenses rose by 0.7%, largely due to staff costs and material purchases, resulting in a **net loss** of ₹3,460.92 cr, worsening from ₹3,164.70 cr last year. The **Earnings Per Share (EPS)** after exceptional items is reported at (₹4.46), with the company recognizing an exceptional gain of ₹1,130.39 cr related to a settlement with LIC.

The balance sheet indicates **total assets** of ₹75,585.80 cr and **liabilities** at ₹66,217.92 cr, maintaining a precarious financial position. Amid ongoing restructuring efforts, there's uncertainty ahead.

Investor sentiment trends cautious; thus, consider holding positions as restructuring outcomes unfold.