Shares of Nuvoco Vistas rose nearly 3% in afternoon trade on Monday after the cement maker reported a 78% year-on-year jump in consolidated profit for the September quarter, supported by revenue growth and higher cement volumes.
The stock was trading at Rs 340.20, up 2.90%, on the NSE at 1:55 pm on October 26.
Nuvoco Vistas' consolidated profit for the September quarter rose to Rs 65 crore, while revenue increased 13% year on year to Rs 2,790 crore. The company sold 4.7 million tonnes of cement during the quarter, up 9% from a year earlier.
"Q2 FY27 was a testament to resilient execution in a challenging operating environment," managing director Jayakumar Krishnaswamy said. Despite intense and erratic rainfall in key markets, logistics and supply chain disruptions, and elevated input costs, the company delivered year-on-year growth in revenue, EBITDA and profit after tax, he said in a statement.
Nomura maintained its 'Buy' rating on Nuvoco Vistas with a target price of Rs 400 after the company's Q2FY27 EBITDA beat estimates on better realisations and marginally higher volumes.