Shyam Century Ferrous Reports ₹402.80 Lakh Net Loss in Q1, Ceases Plant Operations
Shyam Century Ferrous Limited reported a net loss of ₹402.80 lakh for Q1 FY24, up from ₹270.05 lakh in Q1 FY23. Revenue from operations declined 47.32% YoY to ₹1,419.46 lakh. The company ceased operations at its Meghalaya plant due to increased power tariffs. Despite operational challenges, total comprehensive income was positive at ₹675.50 lakh, primarily due to changes in fair value of investments. The board appointed Ghanshyam Agarwal as Additional Director and re-appointed Nirmalya Bhattacharyya as Independent Director.