The company's profit before tax (PBT) jumped 90% year on year to Rs 279.70 crore in the quarter ended 30 June 2022.

Total expenses rose 56.27% year on year to Rs 670.03 crore in the quarter ended June 2022. Cost of raw material consumed rose 65.93% to Rs 334.50 crore and employee benefit expense increased by 59.83% to Rs 22.68 crore in Q1 FY23.

Maithan Alloys is among India's leading manufacturers and exporters of niche value-added manganese alloys. It customized manganese alloys to large and growing steel companies across the world.

Shares of Maithan Alloys fell 2.03% to end at Rs 948.25 on the BSE on Friday.