Nava Bharat Ventures Limited has declared its first quarter financial results for the fiscal year 2010-11. According to the reports the net profit has gone down in the quarter under review. The company has posted a net profit of Rs 105.53 crore during the April-June period of fiscal year 2010.

The net profit of the firm was reported to be Rs 136.37 crore for the same quarter last year. Hence there has been a decline of 22.61% in the net profit figure this time against last year’s record.

Nava Bharat Ventures Limited is the Hyderabad-based technology solutions along with engineering and geographic information services.

So far as the revenue of the firm is concerned, it has declined to Rs 289.79 crore during the Q1 of current fiscal year. It has Rs 356.78 crore for the corresponding quarter in the previous year.

There has been a decline of 18.77% in the revenues of the firm in this quarter against the like period of the preceding fiscal. This has been informed by Nava Bharat Ventures Limited in a filing at the Bombay Stock Exchange.