nava bharat ventures ltd (NBVL) Snapshot

Nava Bharat Ventures Limited reported audited standalone earnings results for the fourth quarter and year ended March 31, 2013 and consolidated earnings results year ended March 31, 2013. For the quarter, on standalone basis, the company reported total income from operations of INR 698.210 million compared to INR 2,442.726 million a year ago. Profit from operations before other income, exceptional items and finance costs was INR 2,229.943 million compared to INR 771.310 million a year ago. Profit from ordinary activities before taxes was INR 809.647 million compared to INR 944.643 million a year ago. Net profit for the period was INR 536.269 million or INR 6.01 per basic and diluted share compared to INR 723.426 million or INR 7.86 per basic and diluted share a year ago. For the year, on standalone basis, the company reported total income from operations of INR 11,241.963 million compared to INR 9,699.610 million a year ago. Profit from operations before other income, exceptional items and finance costs was INR 2,511.858 million compared to INR 1,711.584 million a year ago. Profit from ordinary activities before taxes was INR 2,967.453 million compared to INR 2,282.767 million a year ago. Net profit for the period was INR 2,383.120 million or INR 26.69 per basic and diluted share compared to INR 1,808.067 million or INR 21.46 per basic and diluted share a year ago. For the year, on consolidated basis, the company reported total income from operations of INR 11,421.652 million compared to INR 9,958.504 million a year ago. Profit from operations before other income, exceptional items and finance costs was INR 1,896.341 million compared to INR 1,294.015 million a year ago. Profit from ordinary activities before taxes was INR 2,347.444 million compared to INR 3,204.930 million a year ago. Net profit for the period was INR 1,706.193 million or INR 21.32 per basic and diluted share compared to INR 2,517.358 million or INR 33.72 per basic and diluted share a year ago. The profit in consolidation accounts was lower than in standalone accounts on account of operational deficit in Maamba Collieries Ltd.

Nava Bharat Ventures Limited announced that board of directors of the company at its meeting held on May 23, 2013, recommended dividend on paid-up equity capital INR 5 per each equity share of INR 2 each absorbing a sum of INR 421.6 million apart from Corporate Dividend Tax of INR 71.6 million for the year 2012-13 as compared to previous year of INR 4 per each equity share. The dividend, subject to the approval of shareholders, will be paid? dispatched to the shareholders on or after August 23, 2013.

Nava Bharat Ventures Limited, Board Meeting, May 23, 2013. Agenda: To consider the audited statement of profit and loss for the year 2012-2013 and balance sheet as at March 31, 2013; to consider the financial results for the fourth quarter and audited results for the financial year ended March 31, 2013; to consider the recommendation of equity dividend, if any, for the financial year 2012-2013; and to consider the proposal for restructuring of Odisha operations.