India-based steel refractory maker Vesuvius India Limited (VIL) has reported a net profit of INR 522.40 million ($6.38 million) in the first quarter (April-June) of the fiscal year 2023-24, up 77.51 percent year on year, a company regulatory filing said on Thursday, July 27.
The company reported a total income of INR 4.13 billion ($50.54 million) during the quarter, up 23.58 percent over the corresponding quarter of the previous fiscal year.
VIL also said that it will be setting up a new refractory making plant at Vishakhapatnam in southern India, entailing a capital expenditure of INR 877 million ($10.72 million) to be funded entirely through internal accruals.