Nuvoco Vistas posts net profit of Rs 1.53 crore in Q2 FY24, Real Estate News, ET RealEstate

October 31, 2023

NEW DELHI: Nuvoco Vistas Corporation has reported net consolidated profit after tax (attributable to owners of the parent) of Rs 1.53 crore during the quarter ended September 30, 2023. It had registered net consolidated loss after tax of Rs 130.38 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s net consolidated total income stood at Rs 2,578.92 crore in Q2 FY24, a growth of 7.34 per cent from Rs 2,402.54 crore it registered in the similar quarter last year.

Jayakumar Krishnaswamy, managing director of the company said, “Our trade share has increased from 72% in Q2 FY23 to 74% in Q2 FY24. The expansion at the Haryana Cement Plant is expected to be completed in FY24 which will enable us cater to the strong demand in the Northern region. On the RMX business, we have commissioned four new plants in the current fiscal, bringing our total to 55 plants pan-India.”

As on September 30, 2023, the company’s net worth stood at Rs 8,854.98 crore, debt-equity ratio was 0.55, total debts to total assets was 25.48%, current liability ratio was 43.86%, operating margin was 13% and net profit margin was 0.06%.

The consolidated cement sales volume for the Company increased by 1.2% year-on-year to 4.5 MMT in Q2 FY24. The Company has completed its debottlenecking projects at the Risda and Nimbol plants, enhancing the clinker production capacity by 2,000 TPD.

The company achieved an alternate fuel rate (AFR) of 14.3% in Q2 FY24, an improvement of 5.2% year-on-year.

  • Published On Oct 31, 2023 at 05:30 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App

Source link

Abhay Singh

Web Developer

Leave a Comment