RHI Magnesita India Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 08, 2023 at 07:43 am EST
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RHI Magnesita India Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 9,869.12 million compared to INR 6,003.62 million a year ago. Revenue was INR 9,897.13 million compared to INR 6,043.53 million a year ago. Net income was INR 713.07 million compared to INR 722.31 million a year ago. Basic earnings per share from continuing operations was INR 3.46 compared to INR 4.49 a year ago. Diluted earnings per share from continuing operations was INR 3.46 compared to INR 4.49 a year ago.
For the six months, sales was INR 19,148.68 million compared to INR 12,024.03 million a year ago. Revenue was INR 19,202.57 million compared to INR 12,105.61 million a year ago. Net income was INR 1,180.7 million compared to INR 1,545.79 million a year ago. Basic earnings per share from continuing operations was INR 5.76 compared to INR 9.6 a year ago. Diluted earnings per share from continuing operations was INR 5.76 compared to INR 9.6 a year ago.
RHI Magnesita India Ltd is an India-based company. The Company is primarily engaged in the business of manufacturing and trading refractories, monolithics, bricks, and ceramic paper, as well as rendering management services. Its geographical segments are within India and outside India. The Company offers a range of refractory products and mixes to its customers in steel, cement, lime, non-ferrous metals, glass, and other industries. It offers solutions such as total refractory management/full line service, tailor-made products and services, complete project management from drawing and engineering, supply, installation, and commissioning, and engineering solutions. The Company has manufacturing facilities in Bhiwadi (Rajasthan), Visakhapatnam (Andhra Pradesh), and Cuttack (Orrisa). The Company operates through its subsidiary, Intermetal Engineers (India) Private Limited, which is primarily engaged in the business of manufacturing and selling slide gate mechanics and related components.