Nuvoco Vistas, an integrated cement company, has reported a net loss of ₹26 crore in the quarter ended September against a net loss of ₹16 crore in the same period last year, largely due to higher cost. Revenue from operations was up 13 per cent at ₹2,020 crore (₹1,785 crore).
On a standalone basis, the company’s net profit plunged to ₹6 crore (₹33 crore) even as revenue rose to ₹1,623 crore (₹1,381 crore).
Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas, said that in spite of challenging market conditions in the major operating market of the East, the company managed to match sales volumes of last year. Premium product share improved by 3 per cent on a year-on-year basis and will continue to be a thrust area going forward.
The company has commissioned a captive power plant at Arasmeta in Chhattisgarh.
Shares of the company were down one per cent at ₹536 on Tuesday.