Q3FY23 Quarterly Result Announced for RHI Magnesita India Ltd.
Industrial Goods company RHI Magnesita India announced Q3FY23 results: Q3FY23: Q3FY23 income stood at Rs 649 crore, as compared to Rs 547 crore during Q3FY22, registering a 19% growth in income. The EBITDA stood at Rs 97 crore during the period as against Rs 109 crore against the same period last year, impacting EBITDA margins by -5.1% due to higher cost of trading goods and foreign exchange fluctuations. 9MFY23: The company registered a 32% growth in income during the first 9MFY23 as compared to the 9 months of the previous financial year. The 9MFY23 income stood at Rs 1,860 crores, as compared to Rs 1,413 crores during the 9MFY22. The EBITDA stood at Rs 321 crores during the period as against Rs 254 crores during 9MFY22, impacting EBITDA margins by -0.7% due to higher cost of trading goods and foreign exchange fluctuations. Commenting on the results, Parmod Sagar — MD & CEO of RHI Magnesita India said, “The demand situation continued to remain positive through the nine months of the financial year. We have been able to respond well to this with our efficient production and supply capabilities, ensuring that we maintain our growth trajectory. However, there has been pressure on the margins due to foreign exchange fluctuations and a further increase in the cost of the traded goods arising out of the energy cost hikes in Europe as a fall out of the war.” Result PDF14-02-2023