One of the biggest producers of concrete and cement in India is Nuvoco Vista Corporation Ltd. It offers a broad range of goods, including cement, ready-mix concrete, and contemporary building supplies.
Financial Results:
In comparison to the net loss loss of Rs 85.54 crore reported in Q3 FY22, Nuvoco Vistas Corporation posted a net loss of ₹ 75.29 crore.
In Q3FY23, operating revenue increased 20.3% to ₹ 2,604.59 crore from Rs 2,165.24 crore reported in the same period the previous year. Increased volume of sales and higher margins were the key factors contributing to the increase in income. In Q3 FY23, volume of sales climbed 6% year over year to 4.5 million metric tonnes.
Management Commentary:
“Lastly, our other businesses of Ready-Mix Concrete and Modern Building Materials are on a steady growth trajectory. We have more than 50 operational Ready-Mix plants spread across the country and are further working on opening more. Our Ready-Mix revenues improved by more than 20% during the quarter on a YoY basis with higher value-added product share. MBM has also been penetrating well into non-cement channels in North and West regions.“
Madhumita Basu, Chief Strategy & Marketing Officer, In Q3FY23 Concall
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