16
Feb
11:59
Rathi Steel December-quarter net sales drop 41%
Rathi Steel and Power (RSP) reported its standalone net sales dropped sharply, by 41.47% year-on-year to INR 1.01 billion ($12.05 million) in the third fiscal quarter ending December 2023 (FQ3). Net profit fell by 73.75% to INR 7.89m, Kallanish notes.
The company did not provide any reason for the sharp fall. However, RSP recently announced the issuance of equity shares to non-promoters in order to raise capital.
On 10 February, RSP’s board approved the iss…
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Very good overview of the weekly steel market.
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