Kamdhenu posts 277 per cent growth in Q3 FY07

New Delhi, Jan 16: Kamdhenu Ispat Ltd today posted a 277 per cent growth in its net profit for the third quarter ended December 31, 2006, at Rs 2.6 crore, as compared to Rs 0.69 crore in the corresponding quarter of the previous year.

The total income of the company increased by 145 per cent during the quarter at Rs 71.15 crore against Rs 29.03 crore during Q3FY06.

The company attained a growth of 346 per cent in net profit for the nine-month period ended December 31, 2006 at Rs 8.5 crore over a total income of Rs 213.42 crore marking a rise of 150 per cent in comparison to the corresponding period last year.

''By the end of this quarter, the company utilised Rs 28.22 crore of the proceeds of Rs 32 crore IPO. The balance amount is lying in the form of FDRs in the banks,'' company Chairman and Managing Director Satish Agarwal said.

Mr Agarwal said the company has adopted strategic business models, which are generating optimum results owing to their timely and well-planned execution. The expansion measures are being facilitated through out the country in wide performances and will be further strengthened to meet the ambitious business plan of the company under Vision 2010.

UNI