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Nitco Gets Order From Prestige Estates

Updated on: Dec 17, 2024, 3:31 PM IST
Nitco Limited, in the Indian tiles, marble, and mosaic industry, has secured a significant order from Prestige Estates Projects Limited.
Nitco Gets Order From Prestige Estates
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Nitco, headquartered in Mumbai, India, operates primarily in two sectors: Tiles and Related Products and Real Estate. The company has developed a strong distribution network, featuring over 800 dealers, 18 sales and marketing offices, and 23 warehouses throughout the country. Its manufacturing plant is situated in Alibaug, Maharashtra, with a production capacity of 0.18 million metric tons annually.

About Order 

On December 16, tile manufacturer Nitco Ltd announced that it had secured an order valued at ₹105.40 crore from Prestige Estates Projects Ltd for the supply of tiles, marble, and mosaic products. This order is expected to be fulfilled within a six-month timeframe.

In a regulatory filing, Nitco expressed its satisfaction in announcing the new order, stating, “We are pleased to inform you that the company has secured a new order valued at ₹105.40 crore from Prestige Estates Projects Limited.” 

Nitco Ltd. Q2 FY25 Results

Nitco Ltd. experienced a revenue decrease of 4.35% year-on-year, totalling ₹78.78 crore in Q2 FY2024-25, although it saw a sequential revenue increase of 10.37% compared to the previous quarter. The company’s net loss has expanded by 9.32% year-on-year to ₹-34.60 crore, although there was a 20.5% improvement from the last quarter. 

Additionally, net profit margins decreased by 14.29% year-on-year to -43.92%, but there was a 27.96% sequential recovery from the previous quarter.

Nitco Ltd. Share Price Performance 

As of December 17, 2024, at 2:31 PM, Nitco Ltd.’s share price was trading at ₹145.45 per share. It hit an intraday high of ₹147.55 per share today.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Published on: Dec 17, 2024, 3:31 PM IST

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