Usha Martin Q4 PAT Rises 1% to Rs 106 cr - Business News

New Delhi, Apr 26 (PTI) Usha Martin on Friday reported a marginal 1 per cent rise in consolidated profit after tax (PAT) to Rs 106.33 crore for the March quarter of FY24.

The company had posted a PAT of Rs 105.32 crore in the year-ago period, Usha Martin said in a filing to the BSE.

The consolidated income in the January-March period declined to Rs 838.5 crore from Rs 866.5 crore in the year-ago period.

Commenting on the performance, Usha Martin Non-Executive Director Tapas Gangopadhyay said, "We have concluded the financial year 2023-24 on a positive note with our robust operating cash flows, reflecting strong performance."

Despite facing macro-economic challenges, the company managed to generate an 18.6 per cent EBITDA margin during the year, he said.

"Notably, our core wire ropes division continued to perform well and contributed 71 per cent to our overall consolidated revenues," Gangopadhyay added.

Usha Martin is a leading specialty steel wire rope solutions provider.