homevideos Newsearnings NewsKalyani Steels Q3 revenue up 11%; management expects price hikes to aid margins
Kalyani Steels Q3 revenue up 11%; management expects price hikes to aid margins
Kalyani Steels has reported revenue growth of 11 percent at Rs 407 crore in Q3FY22 against Rs 368 crore in Q3FY21. The company's EBITDA was down by 28 percent at Rs 60.9 crore versus Rs 84.2 crore same quarter last year.
Kalyani Steels has reported revenue growth of 11 percent at Rs 407 crore in Q3FY22 against Rs 368 crore in Q3FY21. The company's EBITDA was down by 28 percent at Rs 60.9 crore versus Rs 84.2 crore same quarter last year.
The company saw its margins decline by 15 percent in quarter ended December 2021 against 22.9 percent in Q3FY21. The profit after tax declined by 29 percent at Rs 42.8 crore on a year-on-year (YoY) basis.
In an interview to CNBC-TV18, RK Goyal, MD of Kalyani Steels said they expect to take price hikes soon and that will aid increase margins in Q4.
"There is tremendous increase in cost of raw materials. We expect some price hikes to come shortly which will help in increasing our margins in Q4."
He said the company has undertaken a price hike of Rs 4600 per metric tonne in Q3.
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