Usha Martin's net profit at Rs 45.95 crore, up by 49%

Kolkata, Oct 31 (UNI) Usha Martin Ltd's, leading producer of speciality steel and wire rope manufacturers, net profit went up by 49 per cent at Rs 45.95 crore in the quarter ended September 30 from Rs 30.89 crores for the same period last fiscal.

An Usha Martin release here today stated the consolidated sales, net of excise duty and inter unit/division sales registered a growth of 11 per cent at Rs 577.30 compared to Rs 520.66 last year.

The profit before tax rose to Rs 62.28 crores from Rs 41.47 crores (an increase of over 50 per cent) and profit after tax rose to Rs 45.95 crores from Rs 30.89 crores.

During the first half of the current fiscal, the consolidated sales registered a growth of over nine per cent at Rs 1,081.06 crore, compared to Rs 985.06 crores last year.

The profit before tax rose to Rs 117.56 crore from Rs 76.65 crore (an increase of over 53 per cent) and profit after tax to Rs 83.63 crore from Rs 58.20 crore (an increase of 44 per cent).

EPS for the period increased to Rs 3.35 from Rs 2.59 (an increase of over 29 per cent).

The captive consumption of steel for down stream value addition in the first half of the current fiscal registered a growth of over five per cent at 85,920 MT as compared to 81,438 MT last year, the release added.

UNI