Nava Bharat Ventures Ltd has posted a lower profit of ₹21.87 crore for the first quarter ended June 30, 2017, against ₹24.22 crore for the corresponding quarter last year on a standalone basis.
The income for the first quarter was up at ₹302.37 crore from ₹245.55 crore for the same quarter last year.
Last fiscal, the company closed with a profit of ₹73.37 crore and income of ₹1041.34 crore.
The company registered a lower net profit of ₹19.09 crore and income of ₹380.93 crore for the first quarter against a profit of ₹26.77 crore and income of ₹356.54 crore for the corresponding quarter last year, on a consolidated basis.
Members later at the AGM approved dividend at 50 per cent, that is ₹1 per share of ₹2 each.
While GRK Prasad was re-appointed as Director, the company also appointed Walker Chandok & Co LLP Chartered Accountants as the statutory auditors till the year 2022, when the company will hold its 50th AGM.