BMW Industries Q2 net profit rises 43% to Rs 21.62 crore
In short
BMW Industries reported Q2 net profit of Rs 21.62 crore for the quarter ended September 30, up 42.7% from a year earlier. Total income rose 33%, and EBITDA increased 25%. The company also said its new greenfield downstream steel complex in Bokaro has started operating.
What the reporting says
BMW Industries reported a 42.7% rise in net profit for the quarter ended September 30, with profit at Rs 21.62 crore. The company’s new greenfield downstream steel complex in Bokaro started operations, and management plans to improve capacity use across these facilities.
Why it matters
BMW Industries posted stronger quarterly results for the period ended September 30, with net profit, income and EBITDA all higher year on year. The company also began operations at its new greenfield downstream steel complex in Bokaro. The reported plan to improve capacity utilisation suggests management is looking to turn the new facility into a bigger contributor to future performance.