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Below are Quote on Nesco Limited reported weak set of numbers for Q4FY21 by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd   

Nesco Limited reported total revenue from operations at ₹75.1 crores down by 36.1% as compared to ₹117.7 crores in Q4FY20. Bombay Exhibition Centre has reported revenue from operation at 2.35% down by 94% due to restriction of covid 19 in Mumbai. Company reported profit before tax of ₹49.2 crores as compared to ₹78.1 crores in Q4FY20 down by 37%. Company reported profit after tax of ₹38.9 crores in Q4FY21 down by 26.2% as compared to ₹52.7 in Q4FY2020.

This was one of the difficult years for the real estate companies in India. Maharashtra region was one of the heaviest hit due to covid 19 2^nd wave, we expect the first half of FY2022 will be a washout quarter for the company and some recovery in 2^nd half of the year. Nesco IT park reported flat results and we expect not much growth in it going forward.

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