Rama Steel Tubes announced that it has incorporated a wholly owned subsidiary (WOS), named Rama Defence on 31 August 2024.
The certificate of incorporation was received by the company on 2 September 2024 from Ministry of Corporate Affairs.The primary objective of incorporation is to engage in the business of defence sector such as trading, importing, exporting, manufacturing, assembling & supplying of defence equipment, arms, ammunition, explosives, related military and security hardware etc.
Rama Steel Tubes is engaged in the business of manufacturing of Steel Pipes and related products.
The company reported 10% decline in consolidated net profit to Rs 6.36 crore in Q1 FY25 as against Rs 7.07 crore posted in Q1 FY24. Revenue from operations fell 30.7% year on year to Rs 216.64 crore during the quarter ended 30 June 2024.
The scrip rose 0.09% to settle at Rs 10.55 on the BSE.
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