Rhi Magnesita Q2 net at Rs43.10cr up 32.41% yoy on higher inventory efficiency gains

Rhi Magnesita reported 24.45% higher total revenues for the Sep-21 quarter on consolidated basis at Rs432.58cr. The revenues were up by 0.77% on sequential basis compared to Rs429.26cr in Jun-21 quarter.

Half yearly sales ended Sep-21 were up 48.9% at Rs862cr. Net cash inflow from operating activities slipped into the negative due to a sharp spike in inventories. Rhi Magnesita was formerly known as Orient Refractories.

On a yoy basis, the net profits at Rs43.10 in the Sep-21 quarter was up 32.41% on a yoy basis. The rise in profits was driven by higher sales but also higher efficiency gains in the quarter.  

On a sequential basis, the profits were lower by -13.77% in Jun-21 quarter.

Net margins stood at 9.96% in the Sep-21 quarter compared to 9.36% in the Sep-20 quarter and 11.64% in the sequential Jun-21 quarter.