Nava Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 02, 2024 at 08:23 am
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Nava Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 9,299.48 million compared to INR 8,800.06 million a year ago. Revenue was INR 9,949.83 million compared to INR 10,208.09 million a year ago. Net income was INR 3,282.08 million compared to INR 2,450.43 million a year ago. Basic earnings per share from continuing operations was INR 22.63 compared to INR 16.82 a year ago. Diluted earnings per share from continuing operations was INR 22.63 compared to INR 16.82 a year ago. Basic earnings per share was INR 22.6 compared to INR 16.87 a year ago. Diluted earnings per share was INR 22.6 compared to INR 16.87 a year ago.
For the nine months, sales was INR 28,942.12 million compared to INR 26,467.07 million a year ago. Revenue was INR 30,033.88 million compared to INR 29,385.72 million a year ago. Net income was INR 7,375.43 million compared to INR 6,810.17 million a year ago. Basic earnings per share from continuing operations was INR 50.72 compared to INR 46.64 a year ago. Diluted earnings per share from continuing operations was INR 50.72 compared to INR 46.64 a year ago. Basic earnings per share was INR 50.79 compared to INR 46.89 a year ago. Diluted earnings per share was INR 50.79 compared to INR 46.89 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.