Nelco says revenue rose 5.1% and profit fell from June quarter
In short
Nelco, the Tata Group satellite communications company, said revenue rose 5.1% year on year. Profit fell 26% from the June quarter, and the company had invested $20 million in Lunar Holdco in August.
This matters for Nelco because sales improved but profit weakened. The reporting does not give the exact quarter or explain why profit dropped.
What the reporting says
Nelco, the Tata Group satellite communications company, reported that revenue grew 5.1% year on year while profit fell 26% from the June quarter, according to publisher summaries. The reporting also says the company invested $20 million in Lunar Holdco in August. The available material does not state the exact quarter, the profit figure, or the reason for the profit drop.
Why it matters
Nelco’s reported quarterly update showed 5.1% year-on-year revenue growth, while profit fell 26% from the June quarter, according to the publisher summaries. The same material says Nelco invested $20 million in Lunar Holdco in August. The report does not provide the exact quarter, the absolute profit number, or the reason for the weaker profit performance.