RHI Magnesita India Q4 Loss Narrows - PTI

New Delhi, May 29 (PTI) RHI Magnesita India on Wednesday reported narrowing of its consolidated loss to Rs 257.89 crore during the March 2024 quarter.

It had reported a loss of Rs 678.90 crore during the year-ago period, the company said in a regulatory filing.

Its total income rose to Rs 947.47 crore as against Rs 881.29 crore in the January-March period of FY23.

During the quarter under review, the company trimmed its expenses to Rs 852.72 crore from Rs 903.85 crore a year ago.

In a separate statement, Parmod Sagar, its Managing Director and Chief Executive Officer, said, "We have enhanced our operational efficiencies, driving remarkable and sustained growth. Our EBITDA and revenue saw substantial year-on-year growth of 49 per cent and 39 per cent, respectively.

"Our rigorous cost optimization initiatives have led to outstanding year-on-year margin improvements this quarter," Sagar added.

RHI Magnesita India Ltd is a leading supplier of high-grade refractory products used by major industries, including steel, cement, non-ferrous metals, and glass.