Nava Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2022
November 04, 2022 at 07:59 am
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Nava Limited reported earnings results for the second quarter and six months ended September 30, 2022. For the second quarter, the company reported sales was INR 7,416.82 million compared to INR 8,233.48 million a year ago. Revenue was INR 8,803.59 million compared to INR 8,892.06 million a year ago. Net income was INR 1,373.63 million compared to INR 310.95 million a year ago. Basic earnings per share from continuing operations was INR 9.25 compared to INR 1.98 a year ago. Diluted earnings per share from continuing operations was INR 9.25 compared to INR 1.98 a year ago. Basic earnings per share was INR 9.44 compared to INR 2.14 a year ago. Diluted earnings per share was INR 9.44 compared to INR 2.14 a year ago.
For the six months, sales was INR 17,667.01 million compared to INR 13,812.77 million a year ago. Revenue was INR 19,942.64 million compared to INR 15,007.52 million a year ago. Net income was INR 4,359.75 million compared to INR 765.38 million a year ago. Basic earnings per share from continuing operations was INR 29.82 compared to INR 5.14 a year ago. Diluted earnings per share from continuing operations was INR 29.82 compared to INR 5.14 a year ago. Basic earnings per share was INR 30.02 compared to INR 5.27 a year ago. Diluted earnings per share was INR 30.02 compared to INR 5.27 a year ago.
NAVA Limited is an India-based ferro-alloy producer. The Company is primarily engaged in the business of manufacture and selling of ferro alloys, generation of power, and operation & maintenance services for power assets. The Companyâs segments include Ferro Alloys (FAP), Power, and Mining. Ferro Alloys (FAP) segment which produces various alloy metals through ferro chrome, silico manganese and ferro silicon and also carrying conversion work on job work basis to others. Power segment which generates thermal energy for captive use and also for outside sale. Mining Segment wherein coal is mined for captive use and also for outside sale. The Company produces and supplies approximately 200,000 tons of ferroalloys. It operates two Ferro alloy plants in India one in Paloncha, Telangana, and another in Kharagprasad, Odisha. Its subsidiaries include Nava Bharat Projects Limited, Nava Bharat Energy India Limited, Brahmani Infratech Private Limited, and Nava Bharat (Singapore) Pte. Limited.