BMW Industries Q2 Results: Net profit rise 43% YoY to Rs 21.62 crore
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BMW Industries Ltd has reported an impressive 42.7 percent increase in net profit for the quarter ending on September 30. The firm's total income surged by 33 percent compared to the same quarter last fiscal year, while EBITDA rose by 25 percent, showcasing its resilience and growth. Notably, the new greenfield downstream steel complex in Bokaro commenced operations, with future plans focused on optimizing capacity utilization across these facilities.
Steel processing firm BMW Industries Ltd registered a 42.7 per cent year-on-year rise in net profit to Rs 21.62 crore for the second quarter ended September 30.The company had posted a profit of Rs 15.15 crore in the July-September quarter of the previous fiscal year, according to a regulatory filing on Thursday.
Total income during the quarter rose 33 per cent to Rs 195.42 crore from Rs 146.96 crore a year ago.
EBITDA stood at Rs 48.73 crore, up 25 per cent from Rs 38.98 crore in the year-ago period. EBITDA margin was 24.9 per cent against 26.5 per cent a year earlier.
Diluted earnings per share stood at Rs 0.96, compared with Rs 0.67 in the corresponding quarter last year.
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For the first half of the fiscal year, net profit rose 34.3 per cent to Rs 40.74 crore from Rs 30.35 crore a year ago. Total income increased 23.8 per cent to Rs 372.10 crore.
Chairman Ram Gopal Bansal said the company's legacy business "continued to demonstrate operational resilience across all three core segments".
He said a key milestone was the commissioning of the first phase of the greenfield downstream steel complex at Bokaro in Jharkhand. The colour coating line received its consent to operate on October 5, marking the company's entry into the colour-coated steel segment.
As of September 30, Rs 516.4 crore had been deployed for the greenfield expansion, comprising Rs 208.9 crore from internal accruals and Rs 307.5 crore through debt, Bansal said.
Of this, around Rs 60 crore was capitalised towards the first phase of the colour coating line as of October 5.
"Going forward, our focus will remain on improving capacity utilisation, ramping up the new Bokaro facilities," Bansal said.
The company has a joint venture with SAIL at Bokaro and manufacturing units in West Bengal and Jharkhand.
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Figures reflect the source report and its stated period. This article is for information and is not investment advice.
