Electrosteel Castings rises as Q4 PAT soars to Rs 227 cr

14-May-24   11:17 Hrs IST

Revenue from operations grew by 7.04% year on year (YoY) to Rs 2,004.26 crore in the quarter ended 31 March 2024.

Profit before tax stood at Rs 259.82 crore, registering a growth of 114.59% from Rs 121.08 crore recorded in the corresponding quarter last year.

For Q4 FY24, EBITDA climbed 50.9% to Rs 346 crore as compared with Rs 229 crore posted in same quarter previous fiscal. EBITDA margin improved to 17% during the quarter as against 12% registered in Q4 FY23.

On standalone basis, the company?s net profit surged 115.84% to Rs 218.67 crore on 0.82% rise in revenue to Rs 1776.3 crore in Q4 FY24 over Q4 FY23.

Ductile iron pipes volumes stood at 1.96 lakh MT in Q4 FY24 as against 1.93 lakh MT in Q4 FY23.

During FY24, the firm?s consolidated net profit soared 134.29% to Rs 739.89 crore from Rs 315.80 crore in FY23. Revenue increased by 2.78% YoY to Rs 7,478.01 crore in FY24.

Meanwhile, the company?s board has recommended a final dividend of Rs 0.90 per equity share for the financial year 2023-24.

Electrosteel Castings is engaged in the business of manufacturing ductile iron (DI) pipes, ductile iron fittings (DIF) and cast iron (CI) pipes.

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