The September-quarter earnings of cement manufacturer Nuvoco Vistas turned out to be rather subdued due to external factors. While demand conditions were primarily impacted by one-offs and some seasonal factors, margins also came in weak due to inflationary cost pressures. Quarterly result highlights The Q2 revenues of Nuvoco Vistas rose 13 percent year on year (YoY) to Rs 2,020 crore. Although the headline growth appears solid, the underlying numbers are strictly not comparable due to the inclusion of NVL’s financials, which...