Business Standard

RHI Magnesita India Q4 results: Net loss narrows to Rs 258.89 crore

Its total income rose to Rs 947.47 crore as against Rs 881.29 crore in the January-March period of FY23

Q4, Q4 results

RHI Magnesita India Ltd is a leading supplier of high-grade refractory products used by major industries, including steel, cement, non-ferrous metals, and glass. Photo: Shutterstock

Press Trust of India New Delhi

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RHI Magnesita India on Wednesday reported narrowing of its consolidated loss to Rs 257.89 crore during the March 2024 quarter.
It had reported a loss of Rs 678.90 crore during the year-ago period, the company said in a regulatory filing.
Its total income rose to Rs 947.47 crore as against Rs 881.29 crore in the January-March period of FY23.
During the quarter under review, the company trimmed its expenses to Rs 852.72 crore from Rs 903.85 crore a year ago.
 
In a separate statement, Parmod Sagar, its Managing Director and Chief Executive Officer, said, "We have enhanced our operational efficiencies, driving remarkable and sustained growth. Our EBITDA and revenue saw substantial year-on-year growth of 49 per cent and 39 per cent, respectively.
"Our rigorous cost optimization initiatives have led to outstanding year-on-year margin improvements this quarter," Sagar added.
RHI Magnesita India Ltd is a leading supplier of high-grade refractory products used by major industries, including steel, cement, non-ferrous metals, and glass.
 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 29 2024 | 9:52 PM IST

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