Total expenses stood at Rs 1,006.11 crore in Q2 FY25, down 4.33% year on year. Cost of material consumed was Rs 949.08 crore (up 9.68% YoY), employee benefits expenses stood at Rs 11.64 crore (up 40.07%YoY), finance costs was at Rs 65.66 crore (up 12.54% YoY) during the period under review.

Revenue from textile segment dropped 54.32% to Rs 25.41 crore and revenue from energy segment tumbled 65.13% YoY to Rs 65.99 crore in Q2 FY25 over Q2 FY24 while revenue from construction business fell to Rs 25.27 crore in Q2 FY25 from Rs 37.46 crore posted in Q2 FY24.

On half year basis, the company’s net profit jumped 19.27% to Rs 190.21 crore on 7.21% rise in revenue from operations to Rs 2,173.92 crore in H1 FY25 over H1 FY24.

Meabwhile, Balu Forge Industries, a precision engineering and manufacturing firm, and Swan Energy have signed an agreement to form a special purpose vehicle (SPV) to expand operations in the defence, aerospace, railways and nuclear industries. Swan Energy is a premier oil and gas service & petrochemical trading company.

The objective of the incorporation of SPV is to engage and explore the potential for supply of products and solutions suitable for the global defence industry, aerospace, railways and nuclear industries.

Swan Group is among India's leading private sector business houses serving the nation for more than a century across textile, real estate and oil & gas sectors.