Nava Bharat Q4 net dips 16% at Rs 108 cr; declares dividend

Diversified firm Nava Bharat Ventures today reported a 16 per cent fall in its net profit at Rs 108.54 crore for the fourth quarter ended March 31.     

The company had a net profit of Rs 129.42 crore during the January-March quarter of 2008, Nava Bharat said in a statement. The company has presence in power, infrastructure and ferro alloys sectors among others.     

Total income of the company also declined to Rs 303.36 crore during Q4 of FY09 from Rs 345.31 crore in the same period a year ago.     

However, for the financial year ended March 31, 2009, Nava Bharat posted a growth rate of 44 per cent in its net profit to Rs 455.10 crore, as against Rs 314.84 crore in FY08.     

 

Total income during the 2008-09 fiscal also rose to Rs 1,280.80 crore from Rs 931.60 crore in FY08.     

The company has declared a dividend of Rs 8 per share for the 2008-09 fiscal.     

Shares of Nava Bharat surged 6 per cent and were trading at Rs 288 in the late afternoon trading on the Bombay Stock Exchange.