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Nava Bharat Ventures Ltd has posted a lower net profit of ₹46.27 crore for the fourth quarter ended March 31, 2014, as against the ₹53.62 crore it logged for the corresponding quarter last year on a standalone basis. The company’s income for the fourth quarter was up at ₹314.39 crore against ₹292.81 crore for the same period last year.
On a standalone basis, the Hyderabad-based company, engaged in ferro alloys, power and sugar businesses, closed with a lower net profit of ₹193.09 crore against ₹238.31 crore for the same period last year on income of ₹1100.54 crore (₹1124.19 crore).
The company on a consolidated basis closed the financial year ended March 31, 2014, with a higher net profit of ₹279.90 crore and income of ₹1727.55 crore against ₹190.36 crore and ₹1142.16 crore respectively for the previous financial year.
The company’s board has recommended a dividend of ₹5 per share (250 per cent) of the face value of ₹2 each for the financial year 2013-14, subject to approval of shareholders. Nava Bharat shares closed the day at ₹225, up one per cent at BSE on Friday.
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