Nuvoco Vistas profit plummet in Q1 FY25

Cement giant reports dramatic drop in earnings for Q1 FY25

{reg}Nuvoco Vistas Corporation has reported a significant decline in its net profit for the quarter ending June 30, 2024. According to The Economic Times, the company's net profit fell by 80.4 percent, reaching INR 2.8 crore compared to INR 14.5 crore in the same period last year.

The company's consolidated total income for Q1 FY25 was INR 2,641 crore, marking a 6.2 percent decrease from INR 2,814.98 crore in the previous year. Nuvoco Vistas' cement sales volume was 4.8 million tons, down from 5 million tons during the same quarter last year. Jayakumar Krishnaswamy, Managing Director of Nuvoco Vistas, attributed the decline to soft demand influenced by election-related disruptions, adverse weather conditions, and persistent pricing pressures./reg}