Goodluck India Q4 Profit Surges 33% to Rs 37 Crore

New Delhi, May 28 (PTI) Steel maker Goodluck India on Tuesday reported a 33 per cent rise in its consolidated net profit to Rs 37.21 crore for the March quarter on account of increased revenues.

It had posted a profit of Rs 27.96 crore for the year-ago period, the company said in an exchange filing.

The company's total income rose to Rs 911.19 crore in the January-March period from Rs 766.97 crore in the same period a year ago.

Its expenses increased to Rs 860.93 crore from Rs 730.52 crore in January-March FY23.

For the whole FY24 fiscal, the company's profit was at Rs 132.26 crore, higher than Rs 878 crore in 2022-23.

The Board of Directors of the company has approved a final dividend of Re 1 for the financial year 2023-24, subject to the approval of shareholders at the ensuing Annual General Meeting.

M C Garg, Chairman, Goodluck India, said, "In spite of adverse geo-political conditions & tough market conditions, the company has succeeded in achieving growth by reshuffling the product mix and the market mix. The demand growth has been robust overall and this has helped shore up our volume sales. We recently supplied and fabricated steel bridges for the high-speed bullet train project."

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.