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Our Bureau

Hyderabad , Jan 29

NAVA Bharat Ferro Alloys Ltd (NBFAL) has recorded a significant growth in net profit for the third quarter ended December 2003.

According to the unaudited financial results taken on record by the NBFAL board on Thursday, the company has achieved a turnover of Rs 103.25 crore, down by 2.16 per cent over the corresponding previous period's Rs 105.54 crore, and posted a net profit of Rs 14.57 crore, an increase of over 37 per cent on Rs 10.61 crore earlier.

The rise in net profit has resulted in an increased EPS of Rs 10.91 (Rs 7.82) on an equity base of Rs 13.35 crore.

For the nine-month period, sales turnover stood at Rs 318.17 crore (Rs 297.49 crore), other income Rs 2.92 crore (Rs 5.31 crore), while net profit stood at Rs 36.36 crore (Rs 23.28 crore), yielding an EPS of Rs 27.22 (Rs 17.02).

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