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Ramkrishna Forgings PAT rises 3% to Rs 810 million in Q1
Industry News- Jul 25,24
Additionally, the board of directors approved the acquisition of Resortes Libertad, S.A. DE C.V. in Mexico.
Ramkrishna Forgings Ltd reported a consolidated net profit of Rs 810 million for the June quarter, marking a rise of over 3% due to higher income. This compares to a profit of Rs 785.2 million for the same period last year, according to the company's exchange filing.
The company's total income increased to Rs 10.13 billion from Rs 8.96 billion in the April-June period of the previous fiscal year. Expenses for the quarter were Rs 8.97 billion, up from Rs 7.93 billion a year ago.
In a separate statement, Naresh Jalan, Managing Director stated, "Our standalone revenues stood at Rs 8.68 billion, reflecting our strong market presence and operational efficiency. Our adjusted EBITDA was Rs 2.01 billion, yielding an impressive EBITDA margin of 23.1%."
During the quarter, the company received an order inflow amounting to Rs 16.79 billion, which is to be executed over four years. This includes an undercarriage business order from a metro car in the railway segment, contributing to diversification into the non-auto space.
Additionally, the board of directors approved the acquisition of Resortes Libertad, S.A. DE C.V. in Mexico.
(Source: Business Standard)
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