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HYDERABAD: Nava Bharat Ferro Alloys Ltd, the Rs 498-crore ferro alloys, sugar and power producer, has registered a growth of 21.91 per cent in turnover and over 286 per cent in net profit after extraordinary items for the first quarter of current fiscal ended June 30.

As per the unaudited financial results taken on record by the board of directors here, the company achieved a turnover of Rs 131.91 crore against Rs 108.2 crore and posted a net profit of Rs 37.13 crore (Rs 9.6 crore). This resulted in an EPS of Rs 27.80 (Rs 7.19) on an equity base of Rs 13.35 crore.

For the fiscal 2003-04, it posted a net profit of Rs 55.64 crore on a turnover of Rs 498.06 crore with reserves amounting to Rs 157.66 crore.

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