Usha Martin's net profit jumps 35.23 pc for Q4

Mumbai, May 8: Usha Martin Limited, leading producer of speciality steel and wire rope manufacturer, registered a net profit of Rs 20.38 crores for Q4 FY 2005-06, an increase of 35.23 per cent over the corresponding period of the previous fiscal.

Gross sales from its core business of steel and wire ropes registered a growth of 18.02 per cent at Rs 401.51 crores for the Q4 FY 2005-06 as compared to Rs 340.18 crores during the corresponding period last year. Profit before tax for the quarter rose to Rs 31.88 crores from Rs 17.22 crores an increase of 85.13 per cent.

During the year ended on 31st March, the gross sales of Usha Martin Limited (UML) excluding subsidiaries (UML) registered a growth of 8.39 per cent at Rs 1377.18 crore compared to Rs 1270.58 crore during the corresponding period last year.

The profit before tax was Rs 100.73 crores as against Rs 58.27 crores during the corresponding period last year, resulting in a growth of over 72.85 per cent and net profit (PAT) for the 12 months period was Rs 64.96 crores as against Rs 40.87 crores, an increase of over 58.94 per cent. EPS increased to Rs 16.20 from Rs 11.04.

The board of directors has recommended a dividend at 55 per cent on the equity shares of the company for the year ended on 31st March.

UNI