Consolidated revenue from operations, however, edged up 1.56% year-on-year to ₹1,211.80 crore from ₹1,193.22 crore. EBITDA declined 10.5% to ₹526.5 crore from ₹588.3 crore, while the EBITDA margin narrowed to 43.5% from 49.3% a year earlier.
Nava’s consolidated total expenses rose 13.27% year-on-year to ₹789.12 crore in the June quarter from ₹696.66 crore a year earlier.
Energy remains Nava’s biggest business
The energy segment remained Nava’s largest revenue contributor in the June quarter, with revenue rising slightly to ₹962.04 crore from ₹949.75 crore a year earlier. However, its segment result fell to ₹442.63 crore from ₹488.69 crore.
Ferro alloys revenue declined to ₹257.11 crore from ₹291.37 crore, while its segment result improved to ₹17.83 crore from ₹13.58 crore. Mining revenue increased to ₹127.85 crore from ₹123.32 crore, but its segment result more than halved to ₹13.64 crore from ₹28.23 crore.
Nava’s ‘Other’ segment, which includes pharmaceutical distribution and agribusiness, contributed ₹1.11 crore in revenue, up from ₹0.84 crore a year earlier. The segment continued to report a loss, although it narrowed marginally to ₹15.65 crore from ₹15.98 crore.
Profit more than doubles sequentially
On a quarter-on-quarter basis, PAT attributable to owners of the company surged from ₹127.13 crore in the March quarter. Revenue from operations increased 6.03% from ₹1,142.85 crore, while total expenses declined 9.25% from ₹869.51 crore.
The sequential improvement in revenue was led by the energy business. Energy segment revenue increased to ₹962.04 crore in the June quarter from ₹813.07 crore in March, while its segment result rose to ₹442.63 crore from ₹318 crore.Ferro alloys revenue declined to ₹257.11 crore from ₹386.05 crore, although its segment result increased to ₹17.83 crore from ₹14.55 crore.
Mining revenue rose to ₹127.85 crore from ₹106.14 crore, with its segment result increasing to ₹13.64 crore from ₹10.98 crore.
Shares of Nava slipped 1.10% to ₹574.75 on the NSE after the company announced its June-quarter results. The stock has declined 1.50% over the past week, 3.66% over the past month and 18.54% over the last three months.
On a year-to-date basis, however, the stock is up 1.01%, while it has gained 178.91% over the past three years.
