Goodluck India Q3 Results: Net profit grows 26% to ₹40 crore
Special steel maker Goodluck India on Friday posted 26 per cent rise in standalone net profit to ₹40.08 crore for the third quarter that ended December, on account of high-margin value-added products.
It had reported ₹31.75 crore net profit in the October – December quarter of 2023-24, the company said in a statement.
The company attributed the rise in profit numbers to “steady demand and increased share of high-margin value-added products.” Operating income on a standalone basis increased by 7 per cent at ₹941.98 crore during the quarter under review as against ₹878.27 crore same period last year.
Earnings Before Interest, Taxes, Depreciation and Amortization grew by 9 per cent at ₹82.48 crore as compared with ₹75.66 crore in same quarter last year.
Sales volume surged by nearly 21 per cent at 1,11,078 Metric Tonne (MT) during Q3FY25, as against 92,023 MT same period last year.
The company expects further revenue growth in the coming quarters with the commencement of operations at its hydraulic tube plant in Uttar Pradesh.
MC Garg, Chairman of Goodluck India, said, “We have been witnessing buoyant demand for our products across all sectors and this has helped shore up our sales significantly during the quarter. We expect the new hydraulic tube plant in Uttar Pradesh to generate additional revenues for the company.” “This, coupled with our increasing focus on value-added products aimed at the defence and aerospace segments, is likely to give a boost to our margins in the coming quarters,” he added.
Goodluck India currently has six manufacturing facilities with a total capacity of 4,50,000 MT per annum spread across two states – Uttar Pradesh and Gujarat.
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