Shares of Nava Ltd. jumped to the highest level since listing after the company's net profit rose in the first quarter of fiscal 2025 on the back of increased revenue and operating profit. Its consolidated net profit grew 30% year-on-year to Rs 446 crore during the April-June period, compared to Rs 343 crore in the same period last year.
The company also recorded its highest ever quarterly income and profit before tax of Rs 1,258.4 crore, and Rs 530.8 crore, respectively. Strong operational performance from the energy business, and increased realisation in metal business supported the stellar result in the first quarter, Nava said in an exchange filing on Thursday.
Nava's revenue from operation for the quarter rose 17.3% year-on-year to Rs 1,222 crore, against Rs 1,042 crore in Q1 FY24. Its operating profit rose 10% year-on-year to Rs 590 crore in April–June, from Rs 536 crore.
However, the company's margins contracted 310 basis points to 48.3% on an annualised basis, from 51.4%. This was because of a rise in total expense, which increased 9.53% year-on-year to Rs 727.1 crore from Rs 663.80 crore.
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Shares of Nava Ltd. rose as much as 4.82%, the highest level since April 3, 1996, before paring some gains to trade 4% higher at Rs 947.00 as of 1:06 p.m. This compares to a 0.48% decline in the NSE Nifty 50.
The stock has gained 150.38% in 12 months, and 115.39% year-to-date basis. Total traded volume so far in the day stood at 4.9 times its 30-day average. The relative strength index was at 68.76.
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