Nava Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2023
May 24, 2023 at 08:27 am EDT
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Nava Limited reported earnings results for the fourth quarter and full year ended March 31, 2023. For the fourth quarter, the company reported sales was INR 8,814.39 million compared to INR 10,164.66 million a year ago. Revenue was INR 10,003.82 million compared to INR 11,392.99 million a year ago. Net income was INR 2,466.57 million compared to INR 2,726.08 million a year ago. Basic earnings per share from continuing operations was INR 17.14 compared to INR 18.44 a year ago. Diluted earnings per share from continuing operations was INR 17.14 compared to INR 18.44 a year ago. Basic earnings per share was INR 17 compared to INR 18.77 a year ago. Diluted earnings per share was INR 17 compared to INR 18.77 a year ago.
For the full year, sales was INR 35,281.46 million compared to INR 33,476.61 million a year ago. Revenue was INR 39,279.95 million compared to INR 36,454.18 million a year ago. Net income was INR 9,276.74 million compared to INR 5,177.04 million a year ago. Basic earnings per share from continuing operations was INR 63.83 compared to INR 35.14 a year ago. Diluted earnings per share from continuing operations was INR 63.83 compared to INR 35.14 a year ago. Basic earnings per share was INR 63.93 compared to INR 35.65 a year ago. Diluted earnings per share was INR 63.93 compared to INR 35.65 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.