Latest News | Ramkrishna Forgings Net Profit Grows 21 Pc to Rs 100 Cr in Dec Qtr
Get latest articles and stories on Latest News at LatestLY. 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.
New Delhi, Jan 18 (PTI) 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".
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)