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Nava Bharat Power Ventures net profit rises over 5-fold to Rs 115 cr in Apr-Jun qtr

The consolidated net profit of the company stood at Rs 19.09 crore in the quarter ended on June 30, 2017, a BSE filing said.


PTI 06 Aug 2018, 02:28 PM India

Nava Bharat Power Ventures today said its consolidated net profit jumped to Rs 115.35 crore in the quarter ended June due to higher revenues.

The consolidated net profit of the company stood at Rs 19.09 crore in the quarter ended on June 30, 2017, a BSE filing said.

According to the statement, the total income of the company rose to Rs 764.99 crore in the quarter under review from Rs 380.93 crore a year ago.

Owing to a significant appreciation in the USD, the other comprehensive income for the quarter ended 30 June 2018 includes the foreign currency translation gain on conversion of the financial information of the overseas subsidiaries of the company from their functional currency to the Indian Rupee to the tune of Rs 92.82 crore. These amounts will be subsequently reclassified to profit or loss on disposal of the subsidiaries, it added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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