Revenue from operations stood at Rs 1,131.20 crore in the September 2023 quarter, registering a growth of 25.71% year on year (YoY).

Profit before tax soared 68% to Rs 221.12 crore during the quarter as against Rs 131.61 crore recorded in Q2 FY23.

During Q2 FY24, total expenses added 18.3% YoY to Rs 920.77 crore. Employee benefits expense was at Rs 60.54 crore (up 28.97% YoY) and finance costs stood at 10.83 crore (up 129.455 YoY) during the period under review.

On half yearly basis, the company’s consolidated net profit surged 60.4% to Rs 297.75 crore on 22.9% increase in net sales to Rs 2,306.13 crore in H1 FY24 over H1 FY23.

Ratnamani is one of the major manufacturers of stainless steel heat exchanger tubes in welded and seamless construction, nickel alloy seamless tubes, titanium welded tubes for applications in power generation i.e. nuclear, thermal and solar power plants, refinery and petrochemical, oil and gas, chemical and fertilizer etc.

The scrip hit a life-time high of Rs 2,983.10 in intraday today on the BSE.