Nava Ltd’s shares spurted 3.44 per cent after the company reported that it had reduced its consolidated debt by 93 per cent compared to that in December 2022, signalling the likelihood of it becoming debt-free by the end of the fiscal year.
MCL, the Zambian subsidiary, made repayments. NAVA reported its highest-ever quarterly profit of Rs 465 crore during Q3, registering 28.2 per cent growth compared to the previous year. The energy division reported 13.7 per cent growth in revenue, while the mining division grew 31.2 per cent. Standalone profits surged by 89 per cent, while revenue declined.
The shares were up 3.44 per cent at Rs 510.40 at 2.20 pm on the BSE.