ISMT hits the roof on turnaround Q4 outcome

10 May 2022 , 12:40 PM

On a consolidated basis, net sales rose 26.40% to Rs 572.92 crore in Q4 March 2022 over Q4 March 2021. The company reported exceptional profit of Rs 2,511.38 crore during the quarter and the year ended March 2022 on write back of outstanding principal debt and unpaid interest. Pre-tax profit (before exceptional item) stood at Rs 177.65 crore in Q4 March 2022 as against pre-tax loss (before exceptional item) of Rs 53.73 crore in Q4 March 2021. During the quarter, total expenses fell 23.86% to Rs 412.13 crore. Cost of material consumed climbed 14.78% to Rs 310.74 crore while employee expense jumped 28.77% to Rs 47.27 crore. For the full year, ISMT reported net profit of Rs 2374.08 crore in the year ended March 2022 as against net loss of Rs 342.51 crore in the year ended March 2021. Net sales rose 72.68% to Rs 2131.12 crore in the year ended March 2022 over the year ended March 2021. ISMT is the largest integrated specialized seamless tube manufacturer in India. Powered by Capital Market – Live News