Get latest articles and stories on Latest News at LatestLY. Shyam Metalics & Energy Ltd (SMEL) on Saturday reported more than fourfold jump in its consolidated profit after tax (PAT) to Rs 481.97 crore in the July-September quarter of 2023-24 despite a fall in revenue. Latest News | Shyam Metalics Energy Q2 Net Profit Grows to Rs 482 Cr.
The company s consolidated revenues dropped by 4.7 per cent to Rs 2,940.70 crore for the second quarter of FY2023-24 as compared to Rs 3,085.20 crore in the same quarter a year ago.
Shyam Metalics & Energy Reports Consolidated Revenues Of ₹2940 70 Cr In Q2FY24 freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
The Indian bankruptcy court has approved the acquisition of steel maker Mittal Corp Ltd by Shyam Metalics and Energy Ltd. The successful bidder, Shyam Sel and Power Ltd, will pay Rs 351 crore, resulting in a 20% recovery for all creditors. The financial creditors claim of Rs 1,587 crore will receive Rs 348.7 crore. The lenders had previously approved the revival plan with 100% voting in favor of Shyam Sel and Power.