Vesuvius India : Q1 FY24 net profit increases by 77%

Vesuvius India Limited reported a rise in net profit of 77.5 percent YoY (year on year) for recent quarter ending in June. In comparison to the Rs 29.43 crore reported in Q1FY23, the manufacturer of refractories reported a net profit of Rs 52.24 crore for Q1FY24. The net profit increased by 20.5% sequentially from the Rs 43.35 crore reported in the March quarter.

The company reported a 22.8% YoY increase in its operating revenue for the Q1FY24 to Rs 405.05 crore from Rs 329.65 crore in the Q1FY23. According to Vesuvius India in an exchange filing, it climbed by 10.09% QoQ (quarter-over-quarter) from the Rs 367.91 crore recorded in Q4FY23.

EBITDA (earnings before interest, taxes, depreciation, and amortisation) increased by five basis points from 12% in Q1FY23 to 17% in the period under review.

Vesuvius India Limited is a subsidiary of UK-based manufacturer of materials engineering, Vesuvius Plc. The company is engaged in production and servicing of refractory goods used in high-temperature industrial operations including steelmaking, foundries, and cement production. Shrouds, stoppers, precast products, nozzles, and crucibles are just a few examples of the extensive range of refractory items that it produces.

Source: Media Reports