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

Nuvoco Vistas revenue from operations in the first quarter of the current fiscal stood at Rs 2,202.97 crore, according to a regulatory filing by the company to the stock exchanges.

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

Nuvoco Vistas's revenue from operations stood at Rs 2,202.97 crore

Leading cement manufacturer Nuvoco Vistas announced its April-June quarter results for the financial year 2021-22, reporting a net profit of Rs 114.28 crore on a consolidated basis. The company's revenue from operations in the first quarter of the current fiscal stood at Rs 2,202.97 crore, according to a regulatory filing by the company to the stock exchanges. 

Nuvoco Vistas's consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) in 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 company achieved exceptional volume growth in the quarter ended June 30, 2021. With a thrust on innovation and premium products, leveraging synergy benefits between Nuvoco and NU Vista, as well as a strong focus on cost efficiencies contributed to an overall improvement in the consolidated EBITDA margin of 24 per cent,'' said Mr. Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corporation Limited.

Shares of Nuvoco Vistas got listed on the stock exchanges last month at a discount to its issue price of Rs 570 apiece. The company's ₹ 5,000 crore initial public offering (IPO) was subscribed 1.71 times on the third and final day of its issue.

Nuvoco Vistas is the fifth largest cement manufacturing company in the country and the largest in the East by capacity. It has 11 cement plants comprising five grinding units, five integrated units, and one blending unit. The company operates cement manufacturing units in cities such as Jharkhand, Chhattisgarh, Rajasthan, West Bengal, and Haryana.

On Tuesday, September 7, shares of Nuvoco Vistas settled at 1.24 per cent lower at Rs 559.90 apiece on the BSE. Nuvoco Vistas opened on the BSE at Rs 573.05, registering an intra day high of Rs 577 and an intra day low of Rs 557, throughout the trading session today.

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