Nuvoco Vistas posted consolidated net profit of Rs 31.03 crore in the quarter ended December 2023, up from a loss of Rs 75.29 crore in the year-ago period.
The company’s revenue, during the quarter under review, declined by 7.04 percent on-year to Rs 2,420.98 crore.
Declining raw material and fuel costs helped the company attain profits despite falling revenue. Power and fuel costs fell to Rs 449.41 crore from Rs 800.68 crore in the corresponding period of the past fiscal, whereas, raw material costs declined to Rs 370.25 crore from Rs 468.76 crore.
The company’s EBITDA increased 55 percent YoY to Rs 421 crore in the quarter. Net debt of the company went down by Rs 632 crore YoY to Rs 4,533 crore.
The cement sales volume went down by 10 percent YoY to 4.02 MMT in Q3.
In its regulatory filing, Nuvoco Vistas said it has commissioned a 1.2 MMTPA cement mill at Haryana Cement plant, which will take the overall cement capacity to 25 MMTPA. The company also said the premium products have contributed 36 percent to the company’s cement trade volumes in Q3.
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