Goodluck India Q1 Profit Rises 22% to Rs 35 cr

New Delhi, Jul 29 (PTI) Steel products maker Goodluck India on Monday posted a 22 per cent rise in consolidated net profit to Rs 34.99 crore during the June 2024 quarter, helped by higher income.

It had clocked Rs 28.59 crore profit in the year-ago period, the company said in an exchange filing.

The company's total income rose to Rs 917.73 crore from Rs 859.05 crore in the April-June period of FY2023-24.

The expenses stood at Rs 869.87 crore against Rs 818.92 crore a year ago.

"The phase of robust growth was driven by a consistent demand for our products both domestically and internationally. To meet this escalating demand, particularly for high-value items, the company has been strategically expanding its production capabilities," M C Garg, Chairman of Goodluck India, said.

Goodluck India manufactures a wide range of engineered steel structures, precision/ auto tubes, forging for defence and aerospace, CR (cold rolled) products and GI (galvanised iron pipes) pipes.