Nava Bharat Ventures Limited has posted a steep dip in its net profit and revenues for the first quarter ended June 30, 2015, as power, ferro alloys and sugar divisions were hit.
The company posted a net profit of Rs 12.95 in first quarter, down 77 per cent as against Rs 56.24 crore for the corresponding period last year.
The income from operations was also down by 34.5 per cent at Rs 200.54 crore as against Rs 306.19 crore for the corresponding quarter last year.
The ferro alloys business was down at Rs 83.49 crore as against Rs 149.46 crore and the power business was also lower at Rs 140.40 crore as against Rs 174.75, due to lower merchant power sales.
The sugar division registered sales of Rs 13.17 crore as against sales of Rs 45.02 crore for the same period last year.