Nelco advanced 2.63% to Rs 640.10 after the company's consolidated net profit rose 7.8% to Rs 4.72 crore on 48.2% increase in net sales to Rs 81.68 crore in Q1 FY23 over Q1 FY22.
Profit before tax stood at Rs 6.67 crore in Q1 FY23, up by 9% from Rs 6.12 crore reported in Q1 FY22.
The company's total expenses spiked 55.08% to Rs 66.64 crore in Q1 FY23 over Q1 FY22.
Nelco, a part of the Tata Group, is a satellite communication (SatCom or VSAT) service provider in India, providing highly reliable data connectivity solutions across the country mainly for the enterprise sector.
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