Total income advanced 33 percent to Rs 195.42 crore, while operating EBITDA expanded 25 percent to reach Rs 48.73 crore during the quarter. The company strengthened its downstream portfolio by securing operational clearance on October 5 for a colour-coated steel plant in Jharkhand. First-half earnings reflected similar momentum, delivering Rs 40.74 crore in bottom-line income on aggregate revenues of Rs 372.10 crore. Moving forward, management intends to maximize capacity utilization across its facilities while executing ongoing ramp-ups.
Key points
Commissioning the downstream Bokaro facility marks the company's formal entrance into the…: Commissioning the downstream Bokaro facility marks the company's formal entrance into the colour-coated steel sector.
Management is focusing future operational efforts on ramping production and enhancing ove…: Management is focusing future operational efforts on ramping production and enhancing overall capacity utilization.
Strategic downstream assets in Bokaro continue to be bolstered by an existing joint ventu…: Strategic downstream assets in Bokaro continue to be bolstered by an existing joint venture with state-run SAIL.
Sources checked by our analysis pipeline: 1
The company had posted a profit of Rs 15.15 crore in the July-September quarter of the previous fiscal year, according to a regulatory filing on Thursday.
Total income during the quarter rose 33 per cent to Rs 195.42 crore from Rs 146.96 crore a year ago.
EBITDA stood at Rs 48.73 crore, up 25 per cent from Rs 38.98 crore in the year-ago period. EBITDA margin was 24.9 per cent against 26.5 per cent a year earlier.
Diluted earnings per share stood at Rs 0.96, compared with Rs 0.67 in the corresponding quarter last year.
For the first half of the fiscal year, net profit rose 34.3 per cent to Rs 40.74 crore from Rs 30.35 crore a year ago. Total income increased 23.8 per cent to Rs 372.10 crore.
Chairman Ram Gopal Bansal said the company's legacy business "continued to demonstrate operational resilience across all three core segments".
He said a key milestone was the commissioning of the first phase of the greenfield downstream steel complex at Bokaro in Jharkhand. The colour coating line received its consent to operate…
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