Shyam Metalics Energy logs over 4-fold jump in Q2; net profit up Rs 482 cr
Shyam Metalics & Energy Ltd (SMEL) on Saturday reported more than fourfold jump in its consolidated profit after tax (PAT) to Rs 481.97 crore in the July-September quarter of 2023-24 despite a fall in revenue.
It had clocked Rs 110.91 crore PAT during the July-September period of the preceding 2022-23 fiscal, the company said in a statement on Saturday.
The company’s consolidated revenues dropped by 4.7 per cent to Rs 2,940.70 crore for the second quarter of FY2023-24 as compared to Rs 3,085.20 crore in the same quarter a year ago.
Despite the realisation of finished steel being down by 11.75 per cent on a year-on-year basis, the company has been able to maintain revenue growth, the statement said.
