Shyam Metalics Q1FY22 Results: PAT up 470% at Rs 458 cr; share price up 5.8% - Overall gains over 46% since listing on 24 June

Shyam Metalics Q1FY22 Results – Shyam Metalics and Energy Limited posted a net profit of Rs 458 cr for the quarter ended 30 June 2021 as against Rs 80 cr PAT (Profit After Tax) during the corresponding period in FY21. The profits jumped almost 470 per cent for the reporting quarter. After getting listed on the exchanges on 24 June 2021, this is the first result announced by the company.  

The company announced its earnings results during the market hours.  

See Zee Business Live TV Streaming Below:

On the quarter-on-quarter basis, the net profit was up over 18 per cent. The total income stood at Rs 2472.81 cr for the reporting quarter versus the Rs 915.51 cr during the same quarter in FY21, the company said in its exchange filing. The revenues for the reporting quarter were up by 170 per cent year-on-year (yoy). In Q4FY21, the revenue stood at Rs 2359.77 cr. 

The total expenses for the Q1FY22 quarter stood at Rs 1777.40 cr versus Rs 759.96 during the June quarter in FY21. In the quarter ended March 31, the expenses incurred were around Rs 1723.75 cr, the company said in its exchange filing. 

“We have utilised the IPO proceeds as per the objects of the issue and the report of the monitoring agency has been filed with the exchanges,” Shyam Metalics said in its regulatory filings. 

The stocks of Shyam Metalics were trading at Rs 448.75 on the NSE at around 1:22 pm on Tuesday. The stock was up 5.8 per cent or Rs 24.80 around this time. The prices have appreciated by over Rs 140 or 46.25 per cent since its listing.