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NAVA Improves Profitability Y-o-Y; Board Announces Stock Split
The Business Guardian
|November 15, 2024
Nava Limited, a leading diversified conglomerate with business interests in metals, energy, mining, commercial agriculture, and healthcare is pleased to announce its financial results for the quarter ended 30th Sep 2024.
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Key Highlights
Stock Split: To enhance the liquidity of the Company's equity shares, the Board of Directors has approved a stock split. Each fully paid equity share with a face value of Rupees 2 will be subdivided into two equity shares with a face value of Rupee 1 each.
Significant Profit Growth: Consolidated Profit After Tax (PAT) sustained at Rs. 331.9 crore.
Standalone Performance: Standalone profit after tax is at Rs. 146.1 crore for the quarter, bolstered by a US$10 million dividend from Nava Bharat (Singapore) Pte Ltd (NBS).
Enhanced Divisional Profitability: Energy division reported improved profitability, despite major maintenance outages in India and Zambia. Metals division achieved strong realizations through advance order booking and product diversity. External coal sales sustained with stable realisations.
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