Ramkrishna Forgings Q1 Profit Rises 3% to Rs 81 cr

New Delhi, Jul 24 (PTI) Ramkrishna Forgings Ltd on Wednesday posted over 3 per cent rise in consolidated net profit to Rs 81 crore during the June quarter, on account of higher income.

It had clocked Rs 78.52 crore profit for the period ended June 30, 2023, the company said in an exchange filing.

The company's total income rose to Rs 1,013.98 crore from Rs 896.99 crore in the April-June period of the preceding 2023-24 fiscal.

Expenses were at Rs 897.46 crore as against Rs 793.36 crore a year ago.

In a separate statement, the company's MD Naresh Jalan said, "Our revenues on a standalone basis stood at Rs 868 crore, reflecting our strong market presence and operational efficiency. Our adjusted EBITDA was Rs 201 crore, yielding an impressive EBITDA margin of 23.1 per cent."

In the quarter, the company received an order inflow amounting to Rs 1,679 crore, which is to be executed over a period of four years. The order book also includes an undercarriage business order from a metro car in the railway segment, contributing to our diversification into the non-auto space, he said.

The board of directors also approved the acquisition of Resortes Libertad, S.A. DE C.V. in Mexico.

The sales volume during the quarter under review was at 23,217 tonnes, as compared to 24,182 tonnes a year earlier.

Kolkata-based Ramkrishna Forgings is a leading manufacturer of forged metal products with an annual installed capacity of 2,30,000 metric tonnes.

It manufactures and supplies forgings of carbon and alloy steel, micro alloy steel and stainless steel to sectors like railways, bearings, oil and gas, power and construction, automotive, among others.