DSP Q1 net surges by 70 per cent

Kolkata, Aug 13: Durgapur Steel Plant (DSP), a unit of Steel Authority of India Limited (SAIL), has achieved all time best first quarter results reporting a jump of 70 per cent and 29 per cent in its net profit and turnover respectively at Rs 220 crore and Rs 1,009 crore this fiscal.

Company sources today said the increase in profits had been primarily facilitated by enhanced internal efficiency where managerial efforts played a major role.

The first quarter growth rates of 21 per cent in the production of Hot metal, 13 per cent in Crude steel and six per cent in saleable steel had contributed to the net profit, they said.

The rise in net profits was also attributed to the emphasis on special steel production and optimising product mix. There was 31 per cent growth in the production of special steel which was 24 per cent of total producrtion.

Introduction of niche products like spring steel and earthquake resistant TMT bars for construction sector had a positive impact on the bottom line, they said.

UNI