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Kalyani Steels' stock rose 5.63% to ₹682 following a 67.19% increase in consolidated net profit to ₹65.33 crore in Q3 FY23, compared to ₹39.08 crore in Q3 FY22. Revenue from operations increased by 7.44% YoY to ₹479.76 crore in the reviewed quarter.
In Q3 FY23, profit before tax increased by 68.69% to ₹87.61 crore, compared to ₹51.94 crore in the same quarter the previous year.
Kalyani Steels' primary commercial activity is the production and retailing of iron and steel goods. The company's manufacturing plant at Hospet Works in Karnataka is an integrated manufacturer of various steel products. In today's intraday session, the counter reached a record-breaking high of ₹685.
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