 "Nava Bharat Ventures surges post Q2 results")
Nava Bharat Ventures has locked in upper circuit of 20% at Rs 177 on the BSE after the company reported a consolidated net profit at Rs 67.96 crore for the second quarter ended September 30, 2015 (Q2).
The company said consolidated operations were benefitted by the availability of Indian coal in place of imported coal for Nava Bharat Energy India (NBEIL) plant being located in Telangana region and positive outcome of the Zambian coal operations. It has not disclosed the previous year quarter figures.
On standalone basis, the company posted 40% year on year (YoY) drop in net profit at Rs 19.36 crore for Q2, due to poor performance by ferro alloys and sugar segments. It had profit of Rs 32.31 crore in the same quarter year ago. Net sales declined by 16.3% at Rs 242 crore on YoY basis.
Till 12:24 PM, a combined 211,809 shares changed hands and there were pending buy orders for 107,919 shares on the BSE and NSE.
The company said consolidated operations were benefitted by the availability of Indian coal in place of imported coal for Nava Bharat Energy India (NBEIL) plant being located in Telangana region and positive outcome of the Zambian coal operations. It has not disclosed the previous year quarter figures.
On standalone basis, the company posted 40% year on year (YoY) drop in net profit at Rs 19.36 crore for Q2, due to poor performance by ferro alloys and sugar segments. It had profit of Rs 32.31 crore in the same quarter year ago. Net sales declined by 16.3% at Rs 242 crore on YoY basis.
Till 12:24 PM, a combined 211,809 shares changed hands and there were pending buy orders for 107,919 shares on the BSE and NSE.
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