Balasore Alloys-Q1 NP surges 302 per cent

Kolkata, May 10 (UNI) Balasore Alloys Limited (BAL), a leading Ferro Chrome producer in the country, has recorded a surge in the net profit by 302 per cent at Rs 246.26 lakh during its first quarter ended March 31, 2007.

The net profit during the previous corresponding period was Rs 61.20 lakh.

Operating profit rose by 109 per cent at Rs 803.23 lakh as compared to Rs 385.21 lakh recorded during the corresponding period previous year.

Earning-Per-Share (EPS) jumped by 207 per cent at Rs 0.43 per share as compared to Re 0.14 per share for the corresponding period previous year (Re 5.16 per share on an annualised basis).

The company attributed its impressive Q1 result to improved all-round efficiency, triggered by high export earnings, higher productivity and cost eficiency.

The quarter under review has been of stable growth and aggressive profitability enhancement with the company taking initiative to strengthen its growth-engine and make its growth process more sustainable.

Continued focus on product development capacity expansion, increased export and penetration of the world Ferro Chrome market had enabled the company move on an accelerated growth path.

UNI