Captive resources to jack up Usha Martin operating profit

Kolkata, Jul 25(UNI) Riding Rs 120-crore saving by way of utilisation of captive resources, the operating profit of Usha Martin is expected to rise by five per cent in the next fiscal.

" We expect that our operating margin will go up to 26 per cent by the first quarter of the next year from the present 21 per cent.

This will be possible because of the combined savings from utilisation of our captive iron ore and coal mines," Vice-Chairman P Jhawar told reporters on the sidelines of the company's annual general meeting.

Mr Jhawar said the company had already increased utilisation of its captive iron ore mines to hundred per cent from 57 per cent, as recorded in the last year to save Rs 60 crore annually. It was expecting a similar feat in coal to jack up the operating margin.

The company is utilising its captive resources in the ongoing Rs 1,350-crore expansion plan, to be completed by 2011.

UNI