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Steel GI pipes and lighting products maker Surya Roshni Ltd on Thursday reported a marginal decline in its consolidated net profit to Rs 89.9 crore in the December quarter. The company reported a net profit of Rs 90.1 crore for the October-December quarter a year ago, according to a regulatory filing from Surya Roshni. Its revenue from operations in the December quarter slipped 3.6 per cent to Rs 1,867.96 crore. It stood at Rs 1,937.80 crore in the corresponding quarter a year ago. "Revenue slightly declined by 4 per cent due to a decline in average HRC (Hot-rolled coils) price by 18 per cent on YoY (Year-on-Year) basis," the company said in its earnings statement. The company's revenue from the 'Steel Pipe & Strips' segment declined 7.7 per cent to Rs 1,417.14 crore in the October-December quarter. The same was Rs 1,535.70 crore in the corresponding quarter. "Steel Pipes business exhibited strong sequential recovery, driven by higher volumes and improved institutional sales. ...
Lighting products and pipe maker Surya Roshni Ltd on Thursday reported a muted growth in consolidated net profit at Rs 90.10 crore in the third quarter ended December 2023 on account of slowdown of demand. It had posted a consolidated net profit of Rs 89.66 crore in the October-December period a year ago, according to a regulatory filing from Surya Roshni. Its revenue from operations was down 4.13 per cent to Rs 1,937.80 crore during the quarter under review. It was at Rs 2,021.28 crore in the corresponding quarter. "The company reported a slight dip in revenue on account of slow down of demand of high value-added products in steel pipes business and flattish growth in lighting and consumer durables segment," the company said in an earnings statement. Total expenses of Surya Roshini were at Rs 1,820.52 crore, down 4.15 per cent in the December quarter. Surya Roshni's total income in the December quarter was at Rs 1,941.56 crore, down 3.98 per cent. Revenue from steel pipe and str
Lighting products and pipe maker Surya Roshni on Friday reported a two-fold increase in consolidated net profit to Rs 59.13 crore for the June quarter driven by reduced finance costs. It had posted a consolidated net profit of Rs 22.24 crore in the year-ago period, the company said in a regulatory filing. Revenue from operations was up 2 per cent to Rs 1,875.27 crore in the first quarter of the current fiscal as against Rs 1,839.89 crore last year. "Profit after tax stood at Rs 59 crore, reporting a growth of 166 per cent, on account of reduced finance cost," said an earning statement from the company. Total expenses of Surya Roshni were Rs 1,795.91 crore, up 11.46 per cent in the first quarter of 2023-24. Its total income rose 2 per cent to Rs 1,877 crore. The company's revenue from steel pipe and strips was marginally down to Rs 1,502.80 crore from Rs 1,504.44 crore in the corresponding quarter last year. "The revenue remained flattish due to lower steel prices. However, raw ..