Q3FY22 Quarterly Result Announced for Nava Bharat Ventures Ltd.
Electric Utilities company Nava Bharat Ventures declares Q3FY22 result: Stellar Standalone performance reports 99% growth in Revenue, 238% growth in EBITDA and 222% growth in PAT for the quarter Standalone 9 months performance marked by 85% growth in revenues, 157% growth in EBIDTA and 174% growth in PAT Consolidated quarterly Financials improved YoY with 42% growth in revenues, 44% growth in EBIDTA and 18% growth in PAT. Record realisations for manganese alloys sustained the growth momentum with power division supplementing it with higher productivity. The profit before tax grew by 229% YoY for the quarter, despite an exceptional provision against a contingent liability, made on a prudential basis. Ferro Alloys Revenue grew by 81% YoY. Such Growth was led by both Volume and Realisation. Company's strategy of focussing on exports fetched better average realisations for its manganese alloys division. Its Ferro Chrome conversion operations continued to be stable affording due value add for captive power and delivered an improvement YoY. Power division reported 83% growth in Revenue. 60MW IPP of its 150MW in Odisha has since July 2021 been contributing significantly to standalone power business. Competitive marginal cost in Odisha helped the Company improve upon merchant power sales on an opportunistic basis. Captive consumption of power units (114MW) was consistent YoY, however improvement of merchant sales from these units also contributed to company's power segment. Company reported a 238% increase in EBITDA YoY due to better efficiency in operations. EBITDA margins for Q3YF22 stood at 40% versus 24% in Q3FY21. Such Increase was predominantly led by Ferro Alloys division. Result PDF28-01-2022