Hot Pursuit     20-Mar-24
Rama Steel pares bank debt worth Rs 115.98 crore
Rama Steel Tubes said that the company has managed to reduce its sanctioned bank loans limits by Rs 115.98 crore, which is 39% of total existing sanctioned limits over the year.

Richi Bansal, WTD & CEO of RSTL, said: "The reduction of our bank loans demonstrates our dedication to prudent financial management and sustainable growth. We remain focused on optimizing our capital structure, reducing debt burdens, and maximizing shareholder returns."

Rama Steel Tubes is engaged in the business of manufacturing of Steel Pipes and related products.

The company reported a 21.61% increase in consolidated net profit to Rs 6.19 crore in Q2 FY24 as against Rs 5.09 crore in Q2 FY23. However, revenue from operations declined 41.44% year on year to Rs 203.33 crore during the quarter ended 30 September 2023.

The company had reported 22.92% increase in net profit to Rs 9.17 crore despite a 25.08% fall in sales to Rs 262.39 crore in Q3 FY24 over Q3 FY23.

The scrip tumbled 7.08% to currently trade at Rs 14.07 on the BSE.

Previous News
  Rama Steel Tubes consolidated net profit rises 21.61% in the September 2023 quarter
 ( Results - Announcements 10-Nov-23   17:28 )
  Rama Steel Tubes to announce Quarterly Result
 ( Corporate News - 25-May-23   12:33 )
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  Rama Steel Tubes consolidated net profit declines 75.10% in the March 2020 quarter
 ( Results - Announcements 29-Jun-20   15:37 )
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 ( Hot Pursuit - 24-Dec-21   14:45 )
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 ( Corporate News - 23-May-18   16:56 )
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 ( Hot Pursuit - 03-Dec-22   09:11 )
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 ( Hot Pursuit - 03-Jan-23   13:04 )
  Board of Rama Steel Tubes approves bonus issue of 2:1
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