Shares of cement maker slipped 1.42% to Rs 295.25 after the company posted a 22.4% decline in consolidated net profit to Rs 29.11 crore in Q4 FY22 from Rs 37.52 crore posted in Q4 FY21.
On a consolidated basis, revenue from operations rose 11.3% to Rs 2,930.18 crore in Q4 FY22 over Q4 FY21. Profit before tax slumped by 57.6% year on year to Rs 63.99 crore in Q4 FY22.On the margins front, operating profit margin slumped to 14.89% in Q4 FY22 from 20.39% in Q4 FY21. Net profit margin declined to 1.02% in Q4 FY22 as against 1.46% posted in Q4 FY21.
On full year basis, the cement company reported a consolidated net profit of Rs 32.08 crore in the financial year ended 31 March 2022 as against a net loss of Rs 25.95 crore in the financial year ended 31 March 2021. Revenue from operations surged 24.4% year on year to Rs 9,318.03 crore in FY22.
Commenting on the financial results, Jayakumar Krishnaswamy, managing director of Nuvoco Vistas Corp said, FY22 was an exceptionally challenging year. Several crises such as - the resurgence of COVID-19 pandemic, sand unavailability and inflationary pressure - have negatively impacted the industry. In the meantime, we continued to focus on internal levers and operational efficiencies. Market share of our premium products on trade volumes improved to 34% and will remain a major thrust area. Our investments in sustainability projects will further our ESG Agenda. We also remain committed to grow our operations on account of the announced clinker expansion plans at Risda & Nimbol and Grinding Unit at Bhiwani."
Nuvoco Vistas Corporation (NVC) is engaged in the business of manufacturing and sale of Cement and Ready Mix (RMX) along with trading and manufacturing of aggregates. The company caters mainly to the domestic market.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
