Steel producer Goodluck India Q2 PAT grows 70% to Rs 34 crore

Specialty steel producer Goodluck India has posted a 70 per cent rise in its profit after tax (PAT) to Rs 34.70 crore during the quarter ended September 30, helped by increased income. It had clocked a PAT of Rs 20.36 crore during the July-September period of the preceding 2022-23 fiscal, the company said in a statement on Monday.

The company's total income increased to Rs 887.75 crore, up 13 per cent over Rs 783.08 crore in the same quarter of the previous financial year. Its Earnings before interest, taxes, depreciation, and amortization (EBITDA) was at Rs 71.43 crore in the quarter under review, as against Rs 47.49 crore in Q2 FY23, a year-on-year increase of 50 per cent.

Goodluck India manufactures a wide range of engineered steel structures, precision/auto tubes, forging for defence and aerospace, CR (cold rolled) products and GI (galvanised iron pipes) pipes. These products are used by automobile manufacturers, infrastructure companies, industries like engineering, oil and gas, among others.