Ramkrishna Forgings' Profits Surge Amid Increased Revenues

Ramkrishna Forgings reported a 21% increase in net profit for the December quarter, fueled by higher income. The company's revenues grew from Rs 903 crore to Rs 953 crore. Over the first nine months of the fiscal year, profit grew 49%, and revenues rose to Rs 2,774 crore.

Ramkrishna Forgings has announced a notable 21% rise in its net profit to Rs 100 crore for the December quarter, citing higher revenue as a key factor. The company had registered an Rs 83 crore net profit in the corresponding period last year, as per an exchange filing on Friday.

In addition, the company's total revenues increased to Rs 953 crore from Rs 903 crore during the same timeframe last year. For the period from April to December, Ramkrishna Forgings reported a 49% upswing in net profit, reaching Rs 355 crore compared to Rs 239 crore in the previous year's comparable period, with revenues rising to Rs 2,774 crore.

Ramkrishna Forgings specializes in manufacturing and supplying closed-die forgings of carbon and alloy steel, among others, with a market presence in the US, Mexico, Turkiye, and Belgium. The company's MD, Naresh Jalan, highlighted the company's robust performance, attributing it to increased business across existing customers and a surge in new component production and orders. The company has secured orders worth Rs 697 crore in the non-automotive segment, including railways, to be executed over the next four years.

(With inputs from agencies.)