Profit before tax stood at Rs 10.48 crore in Q4 FY22, down by 67% from Rs 31.77 crore in Q4 FY21. On a segemental front, steel revenue was Rs 369.08 crore (up 10.43% YoY) and Revenue from power was Rs 8.85 crore (down 86.3% YoY) during the period under review.

On a full year basis, the company reported a 16.94% decline in net profit to Rs 116.36 crore on a 22.38% rise in net sales to Rs 1099.45 crore in financial year ended 2022 over financial year ended 2021.

Meanwhile, the company has announced that Bandi Ramesh Kumar has resigned from the post of Chief Financial Officer. A.Suresh Babu has been elected as Chief Financial Officer of the company w.e.f. 1 May 2022.

Steel Exchange India is primarily engaged in the manufacturing of TMT bars apart from billets, ingots and power generation. The company also deals in sale and purchase of steel products through its trading division and is recognized as one of the largest dealers for Rashtriya Ispat Nigam.