Usha Martin's Q3 profit rises by 27 % at Rs 124.86 Cr

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Kolkata, Jan 29 (UNI) Usha Martin Ltd, major wire rope maker and speciality steel producer, has recorded a growth of 16 per cent at Rs 555.21 crore in the third quarter this year as compared to to Rs 480.38 crore last year.

Announcing the results here today, Usha Martin Managing Director Rajeev Jhawar said the steady growth of production and profit the company's profit before tax was Rs 54.77 crore, up by 5 per cent, from Rs 52.17 crore, whereas the profit after tax stood by Rs 41.23 crore, three per cent up from Rs 39.95 crore last year.

Mr Jawar said the marginal profit ratio of the company was due to upward rise of investment of raw materials than the cost of selling prices of the finished produces.

Duing the nine months of the current fiscal, the consolidated sales registered a growth of 12 per cent at Rs 1636.27 crore compared to Rs 1466.00 crore during the corresponding year.

The profit before tax also rose to 172.33 crore, an increae of 34 per cent, from Rs 128.82 crore and profit after tax was 124.86 crore from Rs 98.15 crore, an increase of 27 per cent.

The EPS (earning per share) for the period increased to Rs 4.99 from Rs 4.42.

The compnay also registered a growth in captive consumption of steel for down stream value addition of over three per cent at 130.285 MT as compared to 126.010 MT during nine months last year.

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