Kalyani Steels posts 8.6 pc drop in Q3 net profit

The company's revenue from operations went up 9.79 per cent to Rs 4,465.26 crore, against Rs 4,066.98 crore in the year-ago period.

Kalyani Steels on Friday posted a decline of 8.66 per cent in its net profit to Rs 390.76 crore for the quarter ended December 2022, against Rs 427.81 in the corresponding quarter last fiscal. The company's revenue from operations went up 9.79 per cent to Rs 4,465.26 crore, against Rs 4,066.98 crore in the year-ago period. Other incomes were Rs 161.75 crore, against Rs 123.31 crore in the year-ago period.

The company's total income was Rs 4,107.65 crore in the reviewed quarter, against Rs 3,610.63 in the year-ago period. The company said its earnings per share went down to Rs 8.96 in the reviewed quarter, against Rs 9.80 during the corresponding quarter the previous year.

The company said manufacturing expenses include stores and spares consumed, job work manufacturing charges, power and fuel, and repairs, among others. Kalyani Steels has 155 employees and specialises in mining and metals. The company said it manufactures forging and engineering quality carbon and alloy steels, which is a single segment in accordance with Ind AS 108. (ANI)

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