Rathi Steel's Profit Surge Despite Income Dip

Rathi Steel and Power Ltd reported a significant profit increase of Rs 6.94 crore in the September quarter, bolstered by decreased expenses. This contrasts with the reported Rs 1.79 crore profit in the same period of the previous year, despite a drop in total income to Rs 121.84 crore.

Rathi Steel and Power Ltd (RSPL) announced a remarkable surge in its net profit, reaching Rs 6.94 crore for the September quarter, driven largely by reduced expenses.

The steel company, which had reported a net profit of Rs 1.79 crore during the corresponding period last year, emphasized the impact of cost-cutting measures in an exchange filing.

Despite an impressive profit climb, RSPL experienced a decline in total income, which fell to Rs 121.84 crore from Rs 148.94 crore in the previous year's quarter. The company operates a facility with a production capacity of 2 lakh tonnes of steel in Uttar Pradesh.

(With inputs from agencies.)