Bengaluru, Aug. 13 -- Not every earnings season plays out the same way for every company. Sometimes a business does well simply by selling more, and sometimes it does well by running tighter and smarter, even when sales don't grow. This quarter, one small-cap steel company gave a good example of the second kind of story, where profit surged sharply while revenue actually slipped a bit. Here's a closer look at how the numbers stacked up, and what's happening beyond the balance sheet.

Shares of Rhetan TMT Limited, with a market capitalization of around Rs.1,694 crore, are currently trading at Rs.21.26, down nearly 18.82% from the previous close of Rs.26.19. It currently trades at a P/E ratio of 133.06.

Profit Shoots Up Sharply

Rhetan TMT...