Financial Daily from THE HINDU group of publications
Friday, Jan 31, 2003
Financial Daily from THE HINDU group of publications Friday, Jan 31, 2003 |
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Corporate Results
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Bearings, Castings & Forgings Corporate - Financial Performance Nava Bharat net rises
HYDERABAD: Nava Bharat Ferro Alloys Ltd has registered a growth of 38.92 per cent in turnover and 124.93 per cent in the net profit for the third quarter of current fiscal year ended December 31, 2002. The company achieved a turnover of Rs 105.54 crore (Rs 75.97 crore) and a net profit of Rs 10.61 crore (Rs 4.71 crore) on an equity base of Rs 13.37 crore (Rs 11.92 crore), yielding an EPS of Rs 7.82 (Rs 3.77). For the nine-month period ended December 31, 2002, NBFAL has achieved a turnover of Rs 302.8 crore (Rs 201.35 crore) and a net profit of Rs 23.28 crore (Rs 12 crore). During the quarter under review, the company incurred an expenditure of Rs 87.19 crore (Rs 62.51 crore) and provided Rs 4.1 crore towards finance charges (Rs 5.52 crore), Rs 2.7 crore towards depreciation (Rs 2.86 crore) and Rs 92 lakh towards taxation (Rs 35 lakh). According to the NBFAL Managing Director, Mr D. Ashok, the profit for the period under review includes an amount of Rs 3.7 crore, which was a net gain on sale of ferro alloy plant located at Raipur. Preference shares amounting to Rs 2 crore were redeemed on maturity.
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