Gyscoal Alloys' profit jumps to Rs 2.20 cr in Q2; revenue from ops rises

Gyscoal Alloys Ltd, a leading manufacturer and exporter of stainless steel long products, posted a net profit of Rs 2.20 crore in the quarter ended December 31, the company in a BSE filing. 

The company posted a jump of 2,787 per cent in its net profit year-on-year (YoY) from Rs 7.64 lakh. On sequential basis, the company's profits jumped by 129.14 per cent from Rs 98.14 lakh.

Gyscoal's revenue from operations rose by 374 per cent to Rs 15.39 crore on a sequential basis, up from Rs 3.24 crore. On YoY basis, the revenue from operations jumped by 129 per cent from Rs 6.69 crore.

Its total expenses also jumped in the quarter ended December by 175 per cent to Rs 14.69 crore as against Rs 5.33 crore in the previous quarter. On a yearly basis, the total expenses were up by 76 per cent from Rs 8.35 crore.