Vesuvius India Limited on July 26 reported a net profit of Rs 52.24 crore for the April-June quarter, up 77.5 percent YoY (year-on-year) from Rs 29.43 crore reported in Q1FY23. Sequentially, the net profit was up by 20.5 percent from Rs 43.35 crore reported in Q4FY23.
Revenue from operations for the quarter grew 22.8 percent YoY at Rs 405.05 crore as compared to Rs 329.65 crore in Q1FY23. Meanwhile, it increased by 10.09 percent QoQ (quarter-on-quarter) against Rs 367.91 crore reported in Q4FY23, Vesuvius India said in an exchange filing.
EBITDA (earnings-before-interest-taxes-depreciation and ammortisation) margins were up by 500 basis points from 12 percent in Q1FY23 to 17 percent in the quarter under review.
In the board meeting held to approve the quarterly financial results, the management also gave its assent to a capital expenditure of Rs 87.7 crore for setting up a new monolithics refractory manufacturing plant at Anakapalli in Andhra Pradesh. The company expects the new plant to add 1 lakh 20 thousand tonne per year to its production capacity.
Vesuvius India Limited is a subsidiary of the UK-based materials engineering manufacturer Vesuvius Plc. The company is engaged in the production and servicing of refractory goods used in high-temperature industrial processes like steelmaking, foundries, and cement production. Its products include a wide range of refractory products like shrouds, stoppers, precast products, nozzles and crucibles.
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