HomeBusinessNuvoco Vistas Reports Net Profit Of Rs 114 Crore In April-June Quarter

Nuvoco Vistas Reports Net Profit Of Rs 114 Crore In April-June Quarter

Nuvoco Vistas Reports Net Profit Of Rs 114 Crore In June Quarter

Nuvoco Vistas’s income from operations stood at Rs 2,202.97 crore

Leading cement producer Nuvoco Vistas introduced its April-June quarter outcomes for the monetary 12 months 2021-22, reporting a web revenue of Rs 114.28 crore on a consolidated foundation. The firm’s income from operations within the first quarter of the present fiscal stood at Rs 2,202.97 crore, in accordance with a regulatory submitting by the corporate to the inventory exchanges. 

Nuvoco Vistas’s consolidated earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) within the June quarter stood at Rs 519.88 crore with the EBITDA margin reported at 24 per cent.

“In spite of the countrywide lockdown, the corporate achieved distinctive quantity progress within the quarter ended June 30, 2021. With a thrust on innovation and premium merchandise, leveraging synergy advantages between Nuvoco and NU Vista, in addition to a powerful concentrate on value efficiencies contributed to an general enchancment within the consolidated EBITDA margin of 24 per cent,” stated Mr. Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corporation Limited.

Shares of Nuvoco Vistas bought listed on the inventory exchanges final month at a reduction to its subject value of Rs 570 apiece. The firm’s ₹ 5,000 crore preliminary public providing (IPO) was subscribed 1.71 occasions on the third and closing day of its subject.

Nuvoco Vistas is the fifth largest cement manufacturing firm within the nation and the most important within the East by capability. It has 11 cement crops comprising 5 grinding models, 5 built-in models, and one mixing unit. The firm operates cement manufacturing models in cities equivalent to Jharkhand, Chhattisgarh, Rajasthan, West Bengal, and Haryana.

On Tuesday, September 7, shares of Nuvoco Vistas settled at 1.24 per cent decrease at Rs 559.90 apiece on the BSE. Nuvoco Vistas opened on the BSE at Rs 573.05, registering an intra day excessive of Rs 577 and an intra day low of Rs 557, all through the buying and selling session right now.

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