The Hindu Business Line : Nava Bharat Ferro posts lower net in fourth quarter, to go in for share-split

The board, which met here on Saturday, has also recommended a 100 per cent dividend for the financial year ended March 31, 2005. The company registered a lower net profit after tax of Rs 7.29 crore during the quarter ended March 31, 2005 against Rs 19.27 crore in the corresponding period last year.

The unaudited figures for the quarter put the total income at Rs 102.47 crore (Rs 156.24 crore). The turnover and profitability in the quarter were affected by the disruption of operations at Orissa Ferro Alloy. The furnaces in Orissa restarted and achieved optimal loads this month, the company said in a press release here on Saturday.

According to the Managing Director, Mr D. Ashok, the audited results put net profit after tax for the financial year ended March 31, 2005, at Rs 106.36 crore (Rs 55.64 crore). The total income for the year was Rs 446.07 crore (Rs 429.42 crore).

The board also approved consolidated results that included results of its subsidiaries NBFA Pte Ltd, Brahmani Power Company Pvt Ltd and Kinnera Power Company Ltd.

The consolidated net profit after tax stood at Rs 106.83 crore on a total income of Rs 446.71 crore. There were no operations of these subsidiaries during 2003-04 and hence no comparative figures.

The board has approved an investment of Rs 3 crore in the company's fully owned subsidiary NBFA Pte Ltd, Singapore.

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