Nava Limited Reports Record Financial Growth for Q2 2024

Nava Limited, a diversified conglomerate, announced its financial results for Q2 2024. Highlights include record quarterly income and PAT, supported by strong performance across energy, metals, and mining divisions. The company declared an interim dividend and achieved notable operational efficiencies, underscoring its robust business model and strategic advancements.

Nava Limited, a diversified conglomerate with interests in metals, energy, mining, commercial agriculture, and healthcare, announced its quarterly financial results for Q2 2024, highlighting record income and profit metrics.

Key results include Maamba Energy Limited's initiation of dues payments to Nava Bharat (Singapore) Pte Ltd, and Nava Limited receiving its first-ever dividend of US$ 10 Mn from Maamba Energy. Nava declared an interim dividend of Rs. 4 per share and reported its highest-ever quarterly income and PBT of Rs. 1258.4 crore and Rs. 530.8 crore, respectively.

CEO Ashwin Devineni attributed the success to the company's diversified portfolio and strategic focus on operational efficiency and cost optimization. He emphasized the significance of Maamba's rebranding to Maamba Energy Limited and upcoming expansions to further their commitment to energy production.

(With inputs from agencies.)