India’s Ramkrishna Forgings Ltd reports 35% rise in consolidated net profit in Q3 FY 2022-23

Monday, 23 January 2023 12:55:24 (GMT+3)   |   Kolkata
       

Indian steel castings and forging company Ramkrishna Forgings Limited has reported a consolidated net profit of INR 610.40 million ($7.57 million) in the third quarter (October-December) of the fiscal year 2022-23, up 35 percent over the corresponding quarter of the previous fiscal, according to a company regulatory filing on Monday, January 23.

The company achieved total revenue of INR 7.77 billion ($95.86 million) during the third quarter, up 30 percent year on year.

According to the statement, during the December 2022 quarter, the company entered into a share purchase agreement to acquire 51 percent shares of electric vehicle maker TSUYO Manufacturing Private Limited. The company is also in the process of becoming an auto component manufacturer by acquiring JMT Auto, the statement said.


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