Q1 Result: Rathi Steel and Power Net Profit Surges to Rs 2.7 crore

New Delhi: Rathi Steel and Power Ltd has announced a 50% increase in its standalone net profit, reaching Rs 2.7 crore for the June quarter, primarily due to reduced expenses. In comparison, the company had recorded a net profit of Rs 1.8 crore during the same period in the previous financial year, according to an exchange filing made on Monday.
The company’s revenues from operations fell to Rs 127.72 crore from Rs 146.55 crore. It also brought down its expenses to Rs 125.13 crore from Rs 147.15 crore in the first quarter of last fiscal.
The company’s CFO Rakesh Kumar said, “We have entered the new financial year on a strong note. Despite a relatively muted industry environment, the company has demonstrated resilience.” The company’s steel plant in Uttar Pradesh, having an installed capacity of 2,00,000 Tonne Per Annum (TPA) comprising a TMT bar mill and a wire-rod mill.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)