RHI Magnesita Posts Profit In March Quarter, Announces Investment In Subsidiary

RHI Magnesita India Ltd. posted a net profit of ₹363.9 million for the March quarter, recovering from a loss of ₹2.3 billion a year ago. Revenue rose 2.6% on year to ₹7.55 billion. On a sequential basis, net profit dropped 35.2%, while revenue slipped 2.4%.

Total expenditure during the quarter, including finance costs, rose to ₹7.03 billion from ₹6.31 billion a year ago. However, finance costs dropped sharply; down 85.1% on year to ₹7.6 million. The company's tax outgo stood at ₹144.2 million, compared with ₹284.2 million a year earlier.

For 2024-2025, net profit stood at ₹2.23 billion, reversing a loss of ₹553.8 million in the previous year. Revenue for the year rose 2.4% to ₹28.92 billion.

The board has approved a final dividend of ₹2.50 a share.

Separately, the board cleared an investment of ₹25 million in its wholly-owned unit, Intermetal Engineers (India) Pvt. Ltd., via a rights issue. The investment involves subscribing to 150 shares at ₹166,475 each, including a premium of ₹166,375 per share.