India's Nava Bharat Ventures falls after weak quarterly results

Nava

05/08/2021 07:15

** Coal mining and power generation co shares  NABV.NS  fall
as much as 15% at 107 rupees - their biggest pct loss since
March 18, 2020    
    ** Co reports June-quarter consolidated net profit of 454.4
mln rupees, down 33.9% from a year ago
    ** NABV's consolidated revenue from operations in the
quarter falls 6.9% to 5.58 bln rupees from a year ago; total
expenses rises 7% 
    ** Outage in one of the manganese smelters, accentuated by
industrial oxygen shortage during second wave of the pandemic
resulting in lower production, limited gains from the ferro
alloy operations - co says https://bit.ly/37lbxmB
    ** More than 3 mln shares traded by 0555 GMT, 2.3 times
their 30-day avg
    ** As of last close, the stock has risen 98.7% this year

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))