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 ended September 30th, 2023 (Q2 FY 2023-24), the company announced through an exchange filing.
The company registered 63.8% growth in total income compared to the same quarter of the previous financial year. The Q2 FY 2023-24 income stood at Rs. 989.7 crores, as compared to Rs 604.4 crores during the Q2 FY 2022-23.
EBITDA for the quarter grew 44% year-on-year to Rs. 150.7 crores. The PBT stood at Rs 97.9 crores during the period as against Rs 97.0 crores during Q2 FY 2022-23.
Parmod Sagar – MD & CEO of RHI Magnesita India said, “The quarter saw strong growth in shipments, reflecting a positive demand outlook. Recently acquired assets complemented organic growth in volumes. While a change in product mix exerted pressure on realizations, capacity utilizations continued to improve through the quarter on a consolidated basis. A year-on-year rise in employee and other expenses was partially offset by easing out of raw material expenses.
RHI Magnesita India Limited shares
The shares of RHI Magnesita India Limited on Thursday at 12:28 pm IST were at Rs 702.35, down by 1.92 percent.