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Magnus Steel and Infra stock rises 5% after Q1FY27 profit surge

Net profit jumped 490.6% year over year to ₹241.13 lakh in the quarter ended June 30, 2026, while revenue from operations rose 273.7% to ₹730.25 lakh.

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Magnus Steel and Infra shares hit the 5% upper circuit on July 23 after the company reported a sharp improvement in its Q1FY27 (June quarter) results.

The company posted net profit of ₹241.13 lakh for the quarter ended June 30, 2026, up 490.6% from ₹40.83 lakh a year earlier. Revenue from operations increased 273.7% year over year to ₹730.25 lakh, driven by higher business activity.

Costs eased, with total expenses at ₹489.12 lakh, down from ₹561.39 lakh in the preceding March quarter. Profit before tax was ₹241.13 lakh, and the company reported no tax expense due to carried-forward and current losses.

Separately, Magnus Steel and Infra deferred the meeting of its Rights Issue Committee until it receives in-principle approval from the stock exchange for its proposed rights issue. The rights issue was previously planned for July 21, and the company said it aims to raise up to ₹40 crore, with a committee charged with finalizing terms including the record date and issue price.

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