Nava Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 09, 2023 at 01:56 am
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Nava Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 9,219.86 million compared to INR 7,416.82 million a year ago. Revenue was INR 9,618.04 million compared to INR 8,803.59 million a year ago. Net income was INR 1,482.8 million compared to INR 1,373.63 million a year ago. Basic earnings per share from continuing operations was INR 10.17 compared to INR 9.25 a year ago. Diluted earnings per share from continuing operations was INR 10.17 compared to INR 9.25 a year ago. Basic earnings per share was INR 10.2 compared to INR 9.44 a year ago. Diluted earnings per share was INR 10.2 compared to INR 9.44 a year ago.
For the six months, sales was INR 19,642.63 million compared to INR 17,667.01 million a year ago. Revenue was INR 20,184.32 million compared to INR 19,942.64 million a year ago. Net income was INR 4,093.35 million compared to INR 4,359.75 million a year ago. Basic earnings per share from continuing operations was INR 28.09 compared to INR 29.82 a year ago. Diluted earnings per share from continuing operations was INR 28.09 compared to INR 29.82 a year ago. Basic earnings per share was INR 28.19 compared to INR 30.02 a year ago. Diluted earnings per share was INR 28.19 compared to INR 30.02 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.