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The terms of revenue sharing between Nitco and HOABL are expected to be finalised as part of the agreement, the reports added.
Nitco is a surface solutions company, offering tiles, marble and mosaic products. It has a strong presence across more than 55 countries and a wide domestic network of over 650 dealers, experience centres and franchise stores.
On a consolidated basis, Nitco reported net loss of Rs 11.90 crore in Q3 December 2025 as against net loss of Rs 660.18 crore in Q3 December 2024. Net sales rose 54.66% YoY to Rs 130.30 crore in Q3 December 2025.
Following his exit, he will also cease to be part of the company’s senior management team from the same date.
The company acknowledged his contributions during his tenure and expressed appreciation for his services.
NITCO is engaged in providing floor and wall solutions with a portfolio comprising a comprehensive range of tiles, marbles and mosaic.
The company had reported a consolidated net loss of Rs 11.90 crore in the quarter ended December 2025 as against a net loss of Rs 660.18 crore recorded during the previous quarter ended December 2024. Sales increased by 54.7% YoY to Rs 130.30 crore in Q3 FY26. The company reported a consolidated net loss of Rs 11.90 crore for the quarter ended December 2025, compared to a net loss of Rs 660.18 crore in the corresponding quarter of the previous year. Sales increased 54.7% year-on-year to Rs 130.30 crore in Q3 FY26.
The counter jumped 4.59% to Rs 86.19 on the BSE.
The robust performance was supported by multiple growth drivers, including higher customer demand, strengthening of the product portfolio, and sustained emphasis on operational efficiencies.
Vivek Talwar, chairman & managing director of company, said: “Achieving 85% growth in sales reflects the strength of our business strategy, the dedication of our teams, and the trust our customers placed in us.
We remain focused on sustainable growth while continuing to invest in innovation, capacity expansion, and customer experience.'
Looking ahead, NITCO stated that it remains optimistic about its growth prospects and will continue to focus on strengthening its market position while maintaining financial discipline.
The company had reported a consolidated net profit of Rs 1.00 crore in the quarter ended September 2025 as against net loss of Rs 34.60 crore during the previous quarter ended September 2024. Sales increased by 62.21% YoY to Rs 106.78 crore in Q2 FY26.