Surana Industries achieves Rs 778 cr turnover

Chennai, June 12 (UNI) Surana Industries Limited, a leading city-based steel-manufacturing company, has achieved a turnover of Rs 778 crore for the financial year, ending March 31, 2007, as against Rs 627 crore last year.

A company release here said the annual profit also increased to Rs 30.74 crore, up by more than 31 per cent as compared to Rs 23.44 crore last year.

Company Managing Director Dinesh Surana said ''the company could achieve these results despite various adverse factors. Worldwide, steel industry is witnessing an unprecedented steel cycle where the peak is likely to prolong for some more time to come.'' The company had to gear up its marketing activities to compete effectively with established producers. Surging freight costs and escalation of the cost of basic raw materials and fuel would continue to keep the cost of production high for steel manufacturers, he said.

UNI