Gallantt Ispat Q2: Profit falls 32% to ₹60.5 crore despite 13% revenue growth

Gallantt Ispat reported a 31.95% year-on-year decline in net profit to ₹60.5 crore in the second quarter of FY27, compared with ₹89 crore a year earlier. Profit also fell from ₹123.67 crore in the June quarter.Revenue from operations rose 13.1% year-on-year to ₹1,146 crore from ₹1,013 crore. It remained largely unchanged from ₹1,145.67 crore in the previous quarter.Earnings before interest, tax, depreciation and amortisation , a measure of operating profit, fell 16.6% year-on-year to ₹109.6 crore from ₹131.5 crore.The EBITDA margin, which shows how much of every rupee of revenue the company retains as operating earnings, narrowed to 9.57% from 13% a year earlier.The results come after a sharp rally in Gallantt Ispat shares earlier this month.

The stock surged around 18% on October 12 and rose as much as 14% during intraday trade on October 15.The company is expanding its steelmaking capacity from 1 million tonnes to 1.29 million tonnes, with commissioning targeted for the second half of FY27. It is also working to strengthen its raw material supply by developing captive iron ore mines.Also Read: Stocks to Watch for October 21: Bajaj Finance, Hind Zinc, IREDA, LTTS and more