Godawari Power and Ispat Q2 Results | Net profit declines 38% to ₹159 crore, revenue falls 2%
In the corresponding quarter of the previous fiscal, Godawari Power and Ispat posted a net profit of ₹256.9 crore, the company said in a regulatory filing. The company’s revenue from operations dropped 1.8% to ₹1,267.6 crore as against ₹1,291 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA falls 31.7% to ₹246.7 crore in the second quarter of this fiscal over ₹361.4 crore in the corresponding period in the previous fiscal.
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EBITDA margin stood at 19.5% in the reporting quarter as compared to 28% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Last month, Godawari Power & Ispat Executive Director Abhishek Agrawal shared key updates with regarding the company’s strategic decisions in this regard and its market outlook.
Agrawal noted that the second quarter is expected to see a decline in realisations as market conditions have been subdued. However, he anticipates an improvement in pellet prices in the third quarter.
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Over the past six months, the company has not engaged in any exports, attributing this to more favourable pricing in domestic markets compared to export markets. Additionally, Agrawal confirmed that there are currently no imports taking place from China.
The results came after the close of the market hours. Shares of Godawari Power and Ispat Ltd ended at ₹173.60, down by ₹5.70, or 3.18% on the BSE.
