Goodluck India Reports 22% Profit Rise in June 2024 Quarter

Steel products maker Goodluck India posted a 22% increase in consolidated net profit to Rs 34.99 crore for the June 2024 quarter, driven by higher income and strong demand. The company's total income rose to Rs 917.73 crore, while expenses grew to Rs 869.87 crore. Goodluck India is expanding its production capabilities to meet rising demand.

Steel products maker Goodluck India on Monday reported a 22% rise in consolidated net profit, reaching Rs 34.99 crore for the June 2024 quarter. This growth was attributed to higher income, according to the company's exchange filing.

The company's net profit was Rs 28.59 crore in the same period last year. Total income also increased to Rs 917.73 crore from Rs 859.05 crore in the April-June period of FY2023-24. Expenses climbed to Rs 869.87 crore, up from Rs 818.92 crore a year earlier.

Chairman M C Garg credited the robust growth phase to consistent demand for their products domestically and internationally. He noted the company is strategically enhancing its production capabilities to meet escalating demand, particularly for high-value items. Goodluck India specializes in a range of engineered steel structures, precision/auto tubes, and other high-tech products.

(With inputs from agencies.)