Shyam Metalics and Energy added 2.37% to Rs 726.45 after the company reported 35.31% jump in consolidated net profit to Rs 276.14 crore in Q1 FY25 from Rs 204.08 crore in Q1 FY24.
Revenue from operations grew by 8.36% year on year to Rs 3,611.61 in the quarter ended 30 June 2024.
Profit before tax (PBT) was at Rs 374.13 crore in the June quarter, up 50.31% from Rs 248.91 crore recorded in the same period a year ago.
Total expenses increased by 7.01% YoY to Rs 3,123.88 crore in Q1 FY25. Cost of raw material consumed stood at Rs 2,778.13 crore (up 14.18% YoY) while employee benefit expense was at Rs 108.04 crore (up 6.23% YoY).
On standalone basis, the companys net profit was at Rs 162.86 crore during the quarter, registering a growth of 47.61% as against Rs 110.33 crore posted in Q1 FY24. However, revenue from operations declined 8.11% YoY to Rs 1558.67 crore in Q1 FY25.
Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys. The company is amongst the largest producers of ferro alloys, one of the leading players in terms of pellet capacity and the fourth largest player in the sponge iron industry in terms of sponge iron capacity in India.
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