HomeBUSINESSSurya Roshni Q1 net dips 40.4 pc to ₹22.24 cr

Surya Roshni Q1 net dips 40.4 pc to ₹22.24 cr


Lighting products maker, Surya Roshni Limited, has registered a 40.37 per cent decline in consolidated net profit in the first quarter that ended on June 30. Surya Roshni’s net profit dipped to settle at 22.24 crore for the first quarter, as margins remained subdued.

In April-June quarter a year ago, Surya Roshni has had recorded a net profit of 37.30 crore, the leading manufacturer of Galvanized Steel (GI) pipes said in a regulatory filing.

Surya Roshni’s revenue from operations during the quarter under review stood at 1,839.89 crore, an increase of 26.58 per cent from the coronavirus pandemic-hit corresponding quarter a year ago.

Surya Roshni’s revenue from operations in the April-June quarter of financial year 2022 was at 1,453.48 crore.

The company said in a statement that: “The margins remain subdued due to steep fall in steel and commodity prices during Q1FY23 impacted profitability of steel pipes segment on a short-term basis and will be normalized, going forward.”

In the April-June quarter period, Surya Roshni’s revenue from “Steel Pipe & Strips” went up 21.42 per cent to 1,504.44 crore. This, against 1,239.01 crore of the corresponding quarter a year ago.

The company recorded its revenue from Lighting & Consumer Durables in the April-June quarter of FY23 at Rs 335.45 crore, a 56.24 per cent. It was at 214.69 crore a year ago.

“Revenue grew by 27 per cent in Q1 FY23 to 1,840 crore from 1,453 crore in Q1 FY22, with strong growth in value-added products across both the segments,” it said.

(With agency inputs)

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