New Delhi, May 29 (PTI) 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.

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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.

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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.

(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)