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MIDHANI Q2 FY22 PAT rises 4% to Rs 34 cr

Capital Market 

Mishra Dhatu Nigam (MIDHANI)'s consolidated net profit rose 4.4% to Rs 33.94 crore on a 13.7% increase in net sales to Rs 185.27 crore in Q2 FY22 over Q2 FY21.

Mini-Ratna defence PSU Mishra Dhatu Nigam (MIDHANI) has achieved a turnover of Rs 187.92 crore, registering a growth of 14.75% during the Q2 FY22 as against a turnover of Rs 163.77 crore recorded in the corresponding period of the previous year. The order book position of the company as on 1 October 2021 stood at Rs 1,369.89 crore.

The company's operations were impacted by the second wave of the COVID-19 pandemic and the recovery was seen in the later part of the period ended 30 September 2021. Based on its assessment of the business/economic conditions as on date, the company expects to recover the carrying value of assets and will continue to evaluate the pandemic related uncertainty and update its assessment, the firm stated in its pres release.

Shares of Shares of Mishra Dhatu Nigam (MIDHANI) added 0.05% to Rs 198.85 on BSE. MIDHANI is one of the leading manufacturers of super alloys, titanium & titanium alloys, special purpose steels and other special alloys. The Government of India held 74% stake in the company as of 30 September 2021.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, November 10 2021. 11:20 IST