The shares of leading Iron and Steel Manufacturers gained up to 1 percent after the company’s net profit and revenue increased by 147 percent and 5 percent respectively YoY in third-quarter results.
With a market capitalization of Rs 4,245.34 crore, the shares of Gallantt Ispat Ltd were trading at Rs 176.05 crore in bse, decreasing around 0.14 percent as compared to the previous closing price of Rs 176.30 apiece.
Looking into the company’s Performance, Gallantt Ispat Ltd’s revenue increased by 12 percent on a quarter-on-quarter basis from Rs. 950 crores in Q2FY24 to Rs. 1,063 crores in Q3 FY24. Further, revenue increased by 6 percent year on year from Rs. 1,006 crores in Q3FY23 to Rs.1,063 crores in Q3FY24.
Gallantt Ispat Ltd’s net profit increased by 6 percent on a quarter-on-quarter basis from Rs. 47 crores in Q2FY24 to Rs. 52 crores in Q3FY24. Further, net profit increased by 147 percent year on year from Rs. 21 crores in Q3FY23 to Rs.52 crores in Q3FY24.
Gallantt Ispat has invested Rs 75,479.62 lakhs in modernizing, updating, and installing cutting-edge technology over the past three years, culminating in 2022-23 (40% of the total gross block).
Gallantt Ispat’s Gorakhpur factory now has a 7,92,000 MTPA pelletization unit, which will assist lower long-term production costs.
Gallantt Ispat achieved a multi-bagger return of 153.30 percent in six months and 182.71 percent in one year. An investment of Rs 1 lakh in the firm yields a return of Rs 2.82 lakh per year.
Gallantt Ispat Limited is a prominent iron and steel manufacturer based in Eastern Uttar Pradesh. The company is involved in the industries of iron and steel, agriculture, power, and real estate.
Written by:- Abhishek Singh
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