Business
SRF profit rises 31% on higher quarterly income
The Hindu BusinessLine·
SRF Ltd on Wednesday reported a 31 percent rise in consolidated net profit to Rs 509.12 crore for the quarter ended September, The Hindu BusinessLine reported. Total income rose to Rs 4,929.14 crore from Rs 3,665.90 crore a year earlier. The board approved about Rs 600 crore for a battery-grade aluminium foil plant in Madhya Pradesh.
Prism
What It Means For You
- The proposed plant will have capacity of 12,000 tonnes per annum.
- Phase I is expected by September 2028 and Phase II by September 2030.
- The facility is planned at SRF Altech Ltd's Jetapur site in Madhya Pradesh.
What's Happening
- Net profit in the year-ago quarter was Rs 388.18 crore.
- First-half net profit grew to Rs 1,267.99 crore from Rs 820.50 crore.
- Chairman and Managing Director Ashish Bharat Ram said businesses delivered a strong performance.
What the Madhya Pradesh plant will make
- The foil is meant for lithium-ion and sodium-ion battery applications.
- Each investment phase is estimated at Rs 300 crore.
- SRF said it has 16 manufacturing facilities and more than 9,500 employees.
all-news
