Shyam Metalics Q2 Results: Profit Up 43% to Rs 493 Crore, Revenue Rises 9% YoY; Capex Plan Approved
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Shyam Metalics reported a 42.9% profit jump to Rs 493 crore for the September quarter.
- ✓Revenue also rose 9.3% to Rs 5,960 crore.
- ✓The board approved a Rs 360 crore investment for a Chhattisgarh coal block and plans to acquire a 51% stake in Alom Solar to boost future operations.
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- BUSINESS
- Reported By
- NDTV Profit
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- 2 Minute(s)
- Market Focus
- India Economy
Shyam Metalics and Energy Ltd. reported a 42.9% sequential increase in consolidated net profit to Rs 493 crore in the September quarter, compared with Rs 345 crore in the previous quarter, in an exchange filing dated Saturday, Oct. 31.
Revenue from operations rose 9.3% sequentially to Rs 5,960 crore from Rs 5,455 crore in the June quarter. Consolidated Ebitda increased 7.6% to Rs 823 crore from Rs 765 crore. However, the Ebitda margin moderated to 13.8% from 14% in the previous quarter.
Rs 360 Crore Capex For Chhattisgarh Coal Block
Alongside quarterly earnings, the company's board also approved an initial capital expenditure budget of approximately Rs 360 crore for the development and operationalisation of the Phutamura Coal Block in Raigarh district, Chhattisgarh.
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