Uttam Galva Steels Net Profit zooms by 51 per cent

Mumbai, Jan 25 (UNI) Uttam Galva Steels Ltd (UGSL), one of the largest producers of galvanized steel in the country, today posted an impressive rise of 51 per cent in it's net profit for the nine months ended December 2006.

The company's net profit was Rs 72.76 crore, as compared to Rs 48.28 crore for the corresponding period last year.

Net sales for the third quarter ended December 30, 2006 increased by 26.90 per cent at Rs 1,727.03 crore as against Rs 1,360.85 crore of the previous quarter ended December 2005.

In a statement issued here, Mr Ankit Miglani, director (Commercial) of Uttam Galva Steels Ltd, said, '' Uttam is expanding it's product portfolio to cater to the diverse applications of the industry. It has been our constant endeavor to produce a larger portfolio of value added grades and sizes.'' UNI AR WD VKG1750