Friday, August 19, 2022
HomegooglenewsGoodluck India Q4 Results: Consolidated net profit increases 200%

Goodluck India Q4 Results: Consolidated net profit increases 200%

Steel products maker Goodluck India on Thursday reported three-fold jump in consolidated net profit at Rs 24.30 crore for March quarter 2021-22 boosted by higher income.

The company had clocked Rs 8.18 crore net profit in January-March 2020-21, it said in a regulatory filing.

Total income also increased to Rs 702.02 crore in the quarter from Rs 484.35 crore in the year-ago period.

In the entire 2021-22 fiscal year, net profit more than doubled to Rs 75.02 crore from Rs 30.05 crore in the preceding financial year.

The company clocked a record turnover of Rs 2,617.10 crore last fiscal year compared to Rs 1,578 crore during 2020-21.

The company’s board has recommended a final dividend of Rs 2 per share for financial year 2021-22 which is subject to the approval of shareholders at the ensuing Annual General Meeting.

In a separate statement, the company said it made exports worth Rs 1,060 crore last fiscal year which is “highest ever exports” made by the company.

“FY22 has indeed been a great year for the company. Our focus on exports paid rich dividend and we have registered our highest turnover as well as profits ever. Going forward….we are particularly bullish on high-speed rail segment as well as solar energy segment, and the contribution from these would keep increasing steadily. Defense sector too will be a key focus area over the next few years,” Mahesh Chandra Garg, Chairman, Goodluck India said.

During the year, the company’s sales volume stood at 2,64,418 tonne as against 2,24,603 tonne in 2020-21.

Goodluck India has five manufacturing units at Sikandrabad (Uttar Pradesh) and one in Kutch (Gujarat) with a total installed capacity of 3,40,000 tonne per annum.

The company is in an expansion mode and will invest Rs 200 crore over 2-3 years to increase capacity to 5,00,000 tonne. PTI ABI ABI ANU ANU

To stay updated with the latest Stock Market news, download our app here!

For editorial purposes, contact [email protected]

Disclaimer: The Stocks mentioned on this website or any segment are not recommendations. Tradebrains.in advises users to check with certified experts before taking any investment decisions.

Html code here! Replace this with any non empty raw html code and that's it.
AUTO
MOBILE
TECH NEWS

Entertainment

Most Popular