Mishra Dhatu Nigam, a leading manufacturer of superalloys, titanium alloys, and special steel that caters to selected end-users like space and defence, reported a dip in its operating margin from 28.73% during the last fiscal year to 22.13% in the June quarter during the current fiscal year.

The company reported a 5.32% increase in net profit for the April-June quarter to Rs 18.71 crore from the Rs 17.77 crore reported in the same quarter during the last fiscal year.

The revenue from operations jumped by 63.34% to Rs 187.72 reported for the quarter under review from Rs 114.93 crore in the year-ago quarter.

The EBITDA gained by 22.64% YoY to Rs 49.56 crore from Rs 40.41 crore in Q1FY23.

The profitability of Mishra Dhatu Nigam was dented due to the sharp rise in input costs and employee benefits expenses.

After the end of the June quarter, the company’s order book position stood at approximately Rs 1,408.21 crore.

During the previous fiscal year, the company paid an interim dividend of Rs 1.68 per share and has proposed to pay another Rs 1.67 per share as a final dividend for FY 22-23, bringing the total of Rs 3.35 of interim dividend for the FY 22-23 on per share held.

At 10:40 am, the shares of Mishra Dhatu Nigam were trading at Rs 352.70 or 5.38% below its previous close of Rs 372.75 on NSE.