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27 Years
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Electric Utilities company NAVA announced Q2FY24 & H1FY24 results:
- Q2FY24:
- Total Revenue: Rs 962 crore, a 9.3% YoY increase.
- EBITDA: Rs 399 crore, a slight -2.6% YoY decrease.
- EBITDA Margin: 41.5%, down by 506 bps YoY.
- PBT: Rs 226 crore, a marginal -0.8% YoY change.
- PAT: Rs 193 crore, up by 9.3% YoY.
- H1FY24:
- Total Revenue: Rs 2,018 crore, a modest 1.2% YoY growth.
- EBITDA: Rs 971 crore, a 1.0% YoY increase.
- EBITDA Margin: 48.1%, a slight -10 bps YoY decrease.
- PBT: Rs 640 crore, with a 4.2% YoY growth.
- PAT: Rs 536 crore, showing a 3.6% YoY increase.
- As of October 2023, the Indian operations of Nava achieved a significant milestone by becoming entirely long-term debt-free reflecting the Company's strengthened financial position
Talking of the results, the CEO of Nava, Ashwin Devineni said, "Our journey at Nava Limited is marked not only by financial growth but also by a significant reduction of long-term debt. Clearing of debt along with sustainable growth positions us for greater success and value creation for our stakeholders."
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