Mishra Dhatu Nigam gains after sales increases 6% YoY in FY22

1 Apr 2022 , 12:39 PM

Meanwhile, exports surged 348.09% YoY to Rs 87.02 crore in FY22 from Rs 19.42 crore posted in FY21.

In the regulatory filing MIDHANI said continued focus on revenue enhancement and cost reduction yielded results which have contributed to four fold increase in exports.

MIDHANI also said that it continued its focus on cost optimisation measures including indigenisation of various components, increasing outsourcing efforts and rationalisation of manpower.

Mishra Dhatu Nigam is engaged in the business of manufacturing of superalloys, titanium, special purpose steel and other special metals. As of 31 December 2021, the Government of India held 74% stake in the company.

The companys consolidated net profit declined 28.6% to Rs 42.92 crore on 19.1% rise in sales to Rs 223.86 crore in Q3 FY22 over Q3 FY21.

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