Nava Bharat Ventures Limited Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 30, 2012
January 31, 2013 at 12:04 pm
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Nava Bharat Ventures Limited reported unaudited earnings results for the third quarter and nine months ended December 30, 2012. For the quarter, the company reported profit after tax of INR 571.5 million compared to INR 325.0 million a year ago. Total income was INR 2,657.3 million compared to INR 2,336.2 million a year ago. The increase was on account of robust merchant power realizations coupled with higher volumes, notwithstanding the fall in generation in Odisha on account of maintenance outage and lower average realizations. Diluted EPS was INR 6.40. Profit from operations before other income, finance costs and exceptional items was INR 578.242 million against INR 280.929 million for the same period a year ago. Profit from ordinary activities before tax was INR 687.347 million against INR 427.126 million for the same period a year ago.
For the nine months period, the company's total income was 8,313.8 million, an increase by 14% while the profit after tax stood at INR 1,846.8 million reflecting a 70% increase over that in the corresponding period. The diluted EPS was INR 20.68. Net profit was INR 1846.851 million against INR 1,084.641 million for the same period a year ago. Profit from operations before other income, finance costs and exceptional items was INR 1,813.646 million against INR 982.948 million for the same period a year ago. Profit from ordinary activities before tax was INR 2,157.806 million against INR 1,336.124 million for the same period a year ago.
Nava Limited is an India-based multinational company with business interests in metals, energy, mining, healthcare and commercial agriculture. The Company produces ferroalloy with approximately 175,000 MT capacity. It is a supplier of manganese, catering to companies across India, the Middle East, East Asia, and Europe. Its products find applications in various industries, including automotive and railways. It operates Zambia's mine to mouth powerplant. The Company, through its subsidiary, Kawambwa Sugar Limited, has taken-up Avocado plantation on approximately 1100 hectares (Ha) of land. Its segments include Ferro Alloys, Power and Mining. The Ferro Alloys segment produces various Alloy Metals, such as ferro chrome, silico manganese and ferro silicon and also carrying conversion work on job work basis to others. The Power segment generates thermal energy for captive use and also for outside sale. The Mining Segment wherein coal is mined for captive use and also for outside sale.