RHI Magnesita India Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 13, 2024 at 05:29 am EST
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RHI Magnesita India Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 9,229.42 million compared to INR 6,448.49 million a year ago. Revenue was INR 9,243.3 million compared to INR 6,492.9 million a year ago. Net income was INR 393.85 million compared to INR 586.78 million a year ago. Basic earnings per share from continuing operations was INR 1.92 compared to INR 3.64 a year ago. Diluted earnings per share from continuing operations was INR 1.92 compared to INR 3.64 a year ago.
For the nine months, sales was INR 28,378.1 million compared to INR 18,472.52 million a year ago. Revenue was INR 28,445.87 million compared to INR 18,598.5 million a year ago. Net income was INR 1,574.54 million compared to INR 2,132.57 million a year ago. Basic earnings per share from continuing operations was INR 7.67 compared to INR 13.25 a year ago. Diluted earnings per share from continuing operations was INR 7.67 compared to INR 13.25 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.