Ramkrishna Forgings Q3 results: Net profit grows 21% to Rs 100 crore

Ramkrishna Forgings has reported a 21 per cent rise in its net profit to Rs 100 crore in the December quarter, driven by higher income.

It had posted Rs 83 crore net profit a year ago, the company said in an exchange filing on Friday.

Its total revenues rose to Rs 953 crore from Rs 903 crore in the year-ago quarter.  For April-December, the company posted a 49 per cent growth in its net profit to Rs 355 crore against Rs 239 crore in the nine months of last fiscal.

The company's revenues rose to Rs 2,774 crore from Rs 2,603 in April-December in the previous financial year.

Homegrown Ramkrishna Forgings is a manufacturer and supplier of closed-die forgings of carbon and alloy steel, micro-alloy steel, and stainless steel forgings. The company has a presence in the US, Mexico, Turkiye and Belgium.

In a statement, the company's MD Naresh Jalan said, "We have reported a strong performance in the third quarter. Our growth has been driven by a higher share of business across existing customers supported by the ramp-up of new components and order wins awarded in recent quarters. We have received orders amounting to Rs 697 crore to be executed over four years across from non-auto segment including railways".