RHI Magnesita India reports 8% Y-o-Y rise in Q4 FY 23-24 revenue

  • Industry News
  • May 30,24
The total income of the company stands at Rs 37.92 billion; up 38% Y-o-Y.
RHI Magnesita India reports 8% Y-o-Y rise in Q4 FY 23-24 revenue

RHI Magnesita India Limited, the leading manufacturer and supplier of high-grade refractory products, systems and solutions, has reported consolidated financial results for the quarter and year ended March 31, 2024. The company registered 8% growth in revenue compared to the same quarter of the previous financial year. The Q4 FY 2023-24 revenue stood at Rs 9.43 billion, as compared to Rs 8.74 billion during the Q4 FY 2022-23. The PBT(excluding one-time exceptional items) stood at Rs 950 million during Q4 FY24.
 
Commenting on the results, Parmod Sagar, MD & CEO, RHI Magnesita India Ltd said, “Our fourth quarter results underlined again the attractive growth and resilient results of our business. We have excelled by strategically enhancing our operational efficiencies, driving remarkable and sustained growth. The seamless integration of recent acquisitions has unlocked significant synergies, reflected in the impressive rise in profitability. Our EBITDA and revenue saw substantial year-on-year growth of 49% and 39% respectively. Our rigorous cost optimisation initiatives have led to outstanding year-on-year margin improvements this quarter. As we expand our strong presence in iron-making, pellet, and DRI, we are poised to continue leveraging our extensive market reach, diverse product portfolio, and exceptional expertise in Total Refractory Management and Services."

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