Goodluck India Q1 profit rises 22% to Rs 35 cr: Rediff Moneynews

Goodluck India’s net profit for the quarter ended June 2024 rose 22% to Rs 34.99 crore on the back of higher revenues and increased demand for steel products.

New Delhi, July 29 (PTI) Steel products maker Goodluck India on Monday reported a 22 per cent rise in consolidated net profit at Rs 34.99 crore for the quarter ended June 2024, helped by higher revenues.

In stock exchange filings, the company said it had made a profit of Rs 28.59 crore during the same period last year.

The company’s total income rose to Rs 917.73 crore from Rs 859.05 crore in the April-June period of fiscal 2023-24.

The expenditure stood at Rs 869.87 crore as against Rs 818.92 crore a year earlier.

“The strong growth phase was driven by the sustained demand for our products both domestically and internationally. To meet this growing demand, especially for high-value items, the company strategically expanded its manufacturing capabilities,” said MC Garg, President, Goodluck India.

Goodluck India is engaged in manufacturing a wide range of Steel Structures, Precision/Automotive Tubes, Defence & Aerospace Forgings, CR (Cold Rolled) Products and GI Pipes (Galvanized Iron Pipes).

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