Rama Steel Tubes Q3 FY24 Results: Profit Increases by 22.86% Year on Year, Watch Live

Rama Steel Tubes reported their Q3 FY24 financial results on 14th February 2024. The company’s revenue decreased by 25.08% year-on-year, while the profit increased by 22.86% during the same period. The operating income experienced a significant decline of 38% quarter-on-quarter but saw a substantial increase of 91.41% year-on-year.

The company’s quarterly earnings per share (EPS) for Q3 FY24 stood at ₹0.18, reflecting an 18.42% increase from the previous year. Rama Steel Tubes also disclosed that they had delivered a -3.86% return in the last week, with 11.32% return in the last 6 months and 17.5% Year-To-Date (YTD) return. At present, the company has a market capitalization of ₹2157.1 Cr and has a 52-week high/low of ₹50.5 and ₹26.45, respectively.

In a detailed breakdown of their financials, Rama Steel Tubes revealed that their selling, general, and administrative expenses had decreased by 56.91% quarter-on-quarter and 20.47% year-on-year. Additionally, the net income for Q3 FY24 amounted to ₹9.17 Cr, while the total revenue for the same period was reported to be ₹262.39 Cr.

Despite the decline in revenue and operating income compared to the previous quarter, Rama Steel Tubes experienced a notable growth in profit and EPS on a year-on-year basis. The company attributed the decrease in revenue and operating income to various market factors and internal dynamics.

The financial results have provided key insights into the performance of Rama Steel Tubes during Q3 FY24. Analysts and investors are looking closely at the company’s strategic initiatives and market positioning to gauge its future prospects.

The article was published on 16th February 2024, at 03:05 AM IST.