India’s Shyam Metalics and Energy Limited (SMEL), a producer of TMT bars, ferroalloys, sponge iron, and billets, achieved a consolidated net profit of INR 1.97 billion ($22.80 million) in the third quarter (October-December) of the fiscal year 2024-25, a rise of 56.3 percent year on year, according to a company statement on Thursday, January 30.
The company reported a consolidated revenue of INR 37.53 billion ($434.38 million) in the given quarter, a rise of 13 percent year on year.
"The consistent growth of our value-added product portfolio further reinforces our commitment to diversification and strengthening our market position," SMEL vice-chairman Brij Bhushan Agarwal said.