Mukand records 476 pc rise in PAT at Rs 74.79 cr

Mumbai, May 20: Leading speciality and alloy steel major, Mukand Limited, has recorded a phenomenal 538 per cent rise in its profit before exceptional items and tax at Rs 86.03-crore for FY 06 as compared to Rs 13.48-crore in FY 05.

A press release issued here today stated that the Company's turnover increased to Rs 1,801-crore from Rs 1,673-crore in FY 05.

Profit after tax, excluding exceptional items, rose by a whopping 476 per cent at Rs 74.79-crore as against Rs 13.32-crore in FY 05.

The turnover of industrial machinery was higher by 58 per cent at Rs 146-crore as against Rs 92-crore in FY 05, stated the release, adding that the orders on hand of industrial machinery at the end of FY 06 aggregated Rs 202-crore.

The improved performance was on account of concerted efforts to maximise production of higher value-added products as well as cost-cutting and improved efficiency in the operations of the steel and industrial machinery business, stated the release.

UNI