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Nuvoco Vistas slips 7%, hits record low on Rs 86-crore loss in Q3

The company expects Q4FY22 to witness strong demand recovery amid potential clinker shortage resulting in opportunity to correct prices

Nuvoco, Emami cement
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Nuvoco, Emami cement

SI Reporter Mumbai
Shares of Nuvoco Vistas Corporation hit a record low of Rs 398, down 7 per cent on the BSE in Friday's intra-day trade, after the company reported consolidated loss of Rs 86 crore in December quarter (Q3FY22) due to lower revenue. The cement and cement products company had posted consolidated profit of Rs 44 crore in Q3FY21.

Revenue from operations declined 3 per cent year-on-year (YoY) to Rs 2,165 crore as against Rs 2,231 crore in the corresponding quarter of the previous fiscal. Earnings before interest, taxes, depreciation, and amortization (ebitda) margins also contracted 1,000 bps to 11 per

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