Mumbai, January 30, 2025 – Nesco Limited (BSE: 505355, NSE: NESCO) has announced its unaudited financial results for the quarter and nine months ended December 31, 2024. The board also approved the incorporation of a wholly owned subsidiary and changes in senior management.
Financial Performance Highlights (₹ in Lakhs)
| Particulars | Q3 FY25 | Q2 FY25 | Q3 FY24 | 9M FY25 | 9M FY24 |
|---|---|---|---|---|---|
| Revenue from Operations | 20,653.85 | 19,210.38 | 17,776.48 | 53,999.53 | 48,921.04 |
| Other Income | 3,144.94 | 3,310.44 | 2,684.94 | 9,411.32 | 7,403.68 |
| Total Income | 23,798.79 | 22,520.82 | 20,461.42 | 63,410.85 | 56,324.72 |
| Profit Before Tax (PBT) | 14,183.88 | 13,501.24 | 12,097.39 | 37,734.08 | 32,697.45 |
| Profit After Tax (PAT) | 10,993.60 | 10,687.63 | 9,374.55 | 28,659.82 | 25,765.88 |
| Basic & Diluted EPS (₹) | 15.60 | 15.17 | 13.31 | 40.68 | 36.57 |
Segment-wise Performance
| Segment | Q3 FY25 Revenue (₹ Lakhs) | 9M FY25 Revenue (₹ Lakhs) |
|---|---|---|
| Realty | 9,293.81 | 27,113.71 |
| Bombay Exhibition Center | 6,712.87 | 15,353.62 |
| Indabrator | 1,228.23 | 3,820.00 |
| Foods | 3,418.04 | 7,027.28 |
- Realty segment remains the largest revenue contributor.
- Exhibition business continued its recovery post-pandemic.
- Food segment showed a significant YoY increase.
Strategic Announcements
- Incorporation of Wholly Owned Subsidiary
- Name: Nesco Retail Private Limited
- Authorized Capital: ₹10 lakhs
- Business Focus: Developing and managing various amenities, including fuel and non-fuel activities, hospitality, and realty operations.
- This subsidiary will expand Nesco’s presence across locations in India.
- Senior Management Restructuring
- Due to internal restructuring, Mr. Rajesh Upadhyay, Mr. Ameya Naik, Mr. Sandeep Chauhan, and Ms. Vibhuti Vyas will cease to be Senior Management Personnel (SMP) from January 30, 2025.
Management Commentary
Krishna S. Patel, Chairman & Managing Director, stated:"Nesco continues to deliver strong growth across its core business segments. The incorporation of our wholly owned subsidiary aligns with our long-term vision to expand service offerings and enhance customer experience. We remain optimistic about sustained performance in the coming quarters."
Outlook
- Nesco’s real estate and exhibition businesses are poised for growth as corporate leasing and events recover.
- Expansion through Nesco Retail Private Limited will unlock new revenue streams.
- The company maintains a strong balance sheet, positioning it well for future expansion.