Rathi Steel & Power Ltd's net profit surged to Rs 6.94 crore in Q2 FY24, driven by lower expenses, despite a decline in total income. The company operates a 2 lakh tonnes steel plant in Uttar Pradesh.
Photograph: Wolfgang Rattay/Reuters
New Delhi, Nov 14 (PTI) Rathi Steel and Power Ltd (RSPL) on Thursday posted a multifold rise in net profit to Rs 6.94 crore in the September quarter, helped by reduced expenses.
It had reported a Rs 1.79 crore net profit in the July-September period of 2023-24, the company said in an exchange filing.
However, the company's total income fell to Rs 121.84 crore from Rs 148.94 crore in the year-ago quarter. Total expenses reduced to Rs 119.61 crore from Rs 147.15 crore in the second quarter last financial year.
Rathi Steel and Power Ltd owns and operates a 2 lakh tonnes steel plant in Uttar Pradesh.
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