Nav Bharat Ventures Q3 net declines 40%

Losses from ferro alloys and sugar segments contribute to fall in profit

Nav Bharat Ventures Limited reported a 40 per cent decline in net profit at Rs 29.51 crore for the quarter ended December, 2014, due to flat revenues and rise in costs in addition to losses from ferro alloys and sugar segments.

Net profit stood at Rs 49.40 crore in the corresponding quarter previous year.

Total income marginally decreased to Rs 286.95 crore from Rs 292.51 crore in the corresponding previous quarter. Expenditure grew 5.9 per cent at Rs 247.79 crore from Rs 233.93 crore in the third quarter previous year due to rise in cost of materials among others.

While revenues from ferro alloys marginally rose to Rs 154.38 crore from Rs 150.62 crore in the year ago period, the segment incurred a loss of Rs 2.64 crore as compared with a gross profit of Rs 4.92 crore in the corresponding previous quarter.

Revenues from power stood at Rs 157.16 crore, marginally down from Rs 160.77 crore in the year ago period, while profit fell sharply at Rs 42.93 crore from Rs 53.82 crore. Sugar continued to report losses even as revenues fell sharply to Rs 27.77 crore from Rs 40.45 crore.