RHI Magnesita's Profit Surges in December Quarter with Strong Revenue Growth

RHI Magnesita reported a 29% increase in net profit for the December quarter, reaching Rs 61.55 crore, driven by rising revenues. The company aims to maintain positive growth momentum in coming quarters.

RHI Magnesita announced a significant 29% rise in its consolidated net profit for the December quarter, reaching Rs 61.55 crore. This growth stems from robust revenue increases, as highlighted in the company's recent exchange filing. In comparison to the previous financial year, where the company recorded a net profit of Rs 47.53 crore, this marks a substantial enhancement in profitability.

The company's total income for the period climbed to Rs 1,093.56 crore, an improvement from Rs 1,017.48 crore in the same period the previous year. Quarter-on-quarter, the net profit displayed an impressive 61% growth over the Rs 38.34 crore reported in the September quarter.

Managing Director and CEO Parmod Sagar expressed a positive outlook, stating that RHI Magnesita India, a leading manufacturer and supplier of high-grade refractory products, is on track to sustain its growth trajectory in upcoming quarters. The company plays a critical role in industries requiring high-temperature processes, including steel, cement, non-ferrous metals, and glass.

(With inputs from agencies.)