Remsons Industries Ltd., an automotive OEM components manufacturer, reported 100% growth in fourth quarter consolidated net profit at ₹5.2 crore.
During the quarter ended March 31, 2024 the company’s revenue grew 6% to ₹81 crore.
For FY24 the company reported net profit of ₹13.30 crore as compared with ₹8.40 crore in the previous year, up 59%.
Revenue for the year remained flat at ₹312.30 crore.
Krishna Kejriwal, Managing Director said, “Our outstanding achievement is attributed to strategic initiatives like higher value products, operational efficiency improvements, and robust export realisations.”
“Looking ahead, we are confident in our future-ready position thanks to the revolutionary changes brought about by digital transformation and our solid intent to move up the value chain,” he said.
“Our positive outlook is fuelled by the belief that our growth trajectory will see significant enhancement through strategic partnerships, including synergistic joint ventures, acquisitions, and collaborations,” he added.
