Nuvoco Vistas sees improvement in first quarter

India’s Nuvoco Vistas Corp has recorded a consolidated net profit of INR1.14bn (US$15.58m) in the first quarter of the fiscal ending 30 June 2021, compared to an INR913.8m net loss in the year-ago period.

Consolidated revenue from operations also surged to INR22.03bn from INR8.42bn in the 1QFY20-21.

"In spite of the countrywide lockdown, the company achieved exceptional volume growth in the quarter ended 30 June 2021. With a thrust on innovation and premium products, leveraging synergy benefits between Nuvoco and NU Vista, as well as a strong focus on cost efficiencies contributed to an overall improvement in the consolidated EBITDA margin of 24 per cent," said Jayakumar Krishnaswamy, managing director.