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Nava Bharat net at Rs 5.94 cr

HYDERABAD: Nava Bharat Ferro Alloys Ltd, a Hyderabad-based company, has recorded a net profit of Rs 5.94 crore for the fiscal 2000-2001, against Rs 5.30 crore in the previous year.

Income from operations was up at Rs 320 crore (Rs 277 crore).

The company provided Rs 28.46 crore (Rs 28.10 crore) for interest payment, Rs 11.31 crore (Rs 12.66 crore) for depreciation, and Rs 55 lakh (Rs 70 lakh) for taxation.

The company's preference share capital came down to Rs 5.82 crore (Rs 8.82 crore), but its reserves rose to Rs 78.07 crore (Rs 74.85 crore). Its EPS stood at Rs 4.02 (Rs 3.36).

The board has recommended a dividend of 12 per cent.

The company registered record production and sales of ferro alloys for 2000-2001. Its export turnover increased 100 per cent to Rs 62.84 crore from Rs 31.22 crore.

The capacity utilisation of the company in ferro alloys, sugar and power generation reached maximum levels and it enabled the company to withstand recessionary pressures, according to its Chief General Manager, Mr T.R. Rao. Its sugar recovery improved to about 10 per cent following modernisation.

With the commissioning of the balancing-cum-expansion scheme, captive power generation rose from 30 MW to 50 MW. - Our Bureau