Hardwyn India reports net profit of Rs 41 crore in Q3FY24

Hardwyn India, a constituent of S&P BSE SmallCap, has announced its third-quarter results and has reported a big upside in net profit (both sequentially and yearly) in the October to December 2023 quarter.

The company informed exchanges that its net profit was Rs 41 crore, a 25 per cent year-on-year (YoY) rise against the net profit of Rs 32.66 crore in the corresponding period of 2023. 

It also recorded an over 200 per cent rise in net profit YoY against its Q2FY24 net profit of Rs 13.45 crore.

Hardwyn India's total expenses in the third quarter of the current fiscal came down to Rs 293.4 crore. It was at Rs 345.26 crore in the previous quarter and at Rs 302 crore in the corresponding period of the previous financial year.

The company's total revenue grew from Rs 347.3 crore in the third quarter of FY23 to Rs 351.35 crore in Q3FY24. In the first nine months of the current financial, Hardwyn India reported a total revenue of Rs 989.17 crore, which stood at Rs 952.15 crore in the April to December 2022 period.

In the first nine months, the small-cap company's unaudited net profit stood at Rs 64.57 crore, which is 21.83 per cent higher than its net profit of Rs 53 crore in the April to December 2022 period.