RHI Magnesita Profit Skyrockets 62%

RHI Magnesita has announced a substantial 62% year-on-year surge in its consolidated net profit, achieving Rs 62.09 crore for the September quarter. This performance was bolstered by increased revenues originating from its operations in India. The company's consolidated revenues edged up to Rs 1,038.26 crore from the previous year's corresponding period.

During the July-September period, RHI Magnesita effectively managed its expenses, reducing them to Rs 953.06 crore compared to Rs 984.68 crore in the prior year's second quarter. The company also reported a 30% year-on-year increase in its EBITDA, which stood at Rs 144 crore, indicating operational improvements.

The company's MD and CEO, Pankaj Malhan, highlighted the strength of their business model, emphasizing customer-centricity and operational excellence in navigating rising costs and an inflationary environment.

In a significant organizational update, RHI Magnesita has appointed Abhishek Bajaj as its new Chief Financial Officer and Chief Investor Relations Officer, with the appointment taking effect from January 1, 2027. Bajaj is set to contribute over two decades of experience in strategic financial leadership.