Surya Roshni, a manufacturer of lighting products and pipes, announced its financial results for the June quarter, displaying a noteworthy twofold surge in consolidated net profit to Rs 59.13 crore. This increase was primarily attributed to a reduction in finance costs. In the corresponding period of the previous year, the company had achieved a consolidated net profit of Rs 22.24 crore.
During the first quarter of the present fiscal year, revenue from operations exhibited a 2% rise, reaching Rs 1,875.27 crore, in comparison to the previous year’s figure of Rs 1,839.89 crore.
According to the company’s earnings statement, the profit after tax reached Rs 59 crore, reflecting a remarkable growth rate of 166%, largely due to the reduction in finance costs. Surya Roshni’s total expenses during this quarter amounted to Rs 1,795.91 crore, marking an increase of 11.46%. In the same period, its total income experienced a 2% uptick, totalling Rs 1,877 crore.
While revenue from steel pipes and strips slightly decreased from Rs 1,504.44 crore to Rs 1,502.80 crore compared to the corresponding quarter of the previous year, revenue from lighting and consumer durables in the June quarter saw a notable increase of 11.46% reaching Rs 373.91 crore from Rs 335.45 crore.
Furthermore, the company managed to reduce its debt by Rs 171 crore, resulting in a debt-to-equity ratio of 0.12x as of June 30.
On the stock market front, Surya Roshni Ltd.’s shares concluded the trading day on Friday with a decline of 4.46 percent, settling at Rs 788.00 apiece on the NSE.