Shyam Metalics & Power Ltd (SMEL) on Saturday reported a greater than four-fold soar in its consolidated revenue after tax (PAT) to Rs 481.97 crore within the July-September quarter of 2023-24 regardless of a decline in income.
It had registered Rs 110.91 crore after added tax throughout the July-September interval of the earlier monetary 12 months 2022-23, the corporate stated in an announcement on Saturday.
The corporate’s consolidated income declined 4.7 per cent to Rs 2,940.70 crore for the second quarter of monetary 12 months 2023-24 in comparison with Rs 3,085.20 crore in the identical quarter final 12 months.
Though completed metal manufacturing declined by 11.75 p.c year-on-year, the corporate was capable of preserve income development, the assertion stated.
The corporate stated it has additionally acquired an order from the NCLT Bench for acquisition of Mittal Corp Restricted together with an order approving the merger of Mittal Corp Restricted with Shyam Sel and Energy Restricted, a wholly-owned subsidiary of the corporate.
There was sustained development within the aluminum foil enterprise and the entry into chrome steel will add to our steel product basket and development of our firm.
Shyam Metalex is a number one built-in steel producer based mostly in India, primarily engaged within the metal business in West Bengal and Odisha with a concentrate on lengthy metal and ferroalloy merchandise.
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First revealed: November 11, 2023 | 10:29 pm he
(Marks for translation) Shyam Metalex Power Firm (R) Second Quarter Internet Revenue