RHI Magnesita India net profit dips to Rs 35 cr in Jun qtr

New Delhi, Aug 8 (PTI) RHI Magnesita India on Friday said its consolidated net profit more than halved to Rs 35.26 crore in the June quarter of FY26, impacted by higher expenses.

The company, which is the leading refractory player, had logged a net profit of Rs 72.88 crore in the year-ago quarter, it said in an exchange filing.

Its income grew by over 9 per cent to Rs 961.42 crore from Rs 881.76 crore a year ago, aided by an increase in shipment volumes.

Total expenses surged to Rs 913.49 crore against Rs 783.62 crore in the corresponding period of FY25.

The cost of materials consumed by the company was higher at Rs 400.89 crore from Rs 319.92 crore a year ago.

Its "other expenses" rose to Rs 170.74 crore from Rs 147.80 crore in April-June FY25.

In a statement, Parmod Sagar – Chairman, MD & CEO of RHI Magnesita India, said, "Our Q1 FY26 performance underscores the strength of our operating model, even in a highly commoditised and uncertain market. Our resilience is paying off, where we are able to gain market share and improve our financial results".

The refractory market remains competitive, but the company is confident in market positioning and strategic levers to drive growth, improving productivity and performing safe operations at all locations, he added.

RHI Magnesita is the leading global supplier of high-grade refractory products, systems and solutions, which are critical for high-temperature processes. The company has a customer base in more than 70 countries.

Refractory is used by a wide range of industries, including steel, cement, non-ferrous metals and glass. PTI ABI ABI BAL BAL