RHI Magnesita India reported a narrowed consolidated loss of Rs 257.89 crore during the quarter ending March 2024, compared to a loss of Rs 678.90 crore in the same period last year. The company’s total income increased to Rs 947.47 crore from Rs 881.29 crore in the January-March period of FY23. Additionally, the company reduced its expenses to Rs 852.72 crore from Rs 903.85 crore year-over-year.
In a separate statement, Parmod Sagar, the Managing Director and CEO, stated, “We have improved our operational efficiencies, leading to significant and sustained growth. Our EBITDA and revenue both saw substantial year-on-year growth of 49% and 39%, respectively. Our focused cost optimization initiatives resulted in outstanding year-on-year margin improvements this quarter.”
