Balasore Alloys Q1 net zooms 318.34%

Kolkata, Aug 4 (UNI) Balasore Alloys Ltd (BAL), a major player in the international ferro chrome market, has notched up an impressive growth of 318.34 per cent in its net profit at Rs. 2253.28 lakh for the first quarter ended June 30 compared to Rs.538.62 lakh in the first quarter previous year.

BAL's turnover was also increased by 95.88 per cent to Rs.

18680.51 lakh as against Rs. 9536.53 lakh for the same corresponding period last year.

Export turnover for the first quarter ended June 30 was increased by 114.10 per cent to Rs. 15632.25 lakh as against Rs. 7301.21 lakh.

The PBT also registered a growth of 278.61 per cent at Rs.

3455.73 lakh as against Rs. 912.74 lakh.

The EPS jumped by 288.89 per cent at Rs.3.50 per share for the first quarter as compared to Rs 0.90 per share for the corresponding quarter of the previous financial year.

The company has been able to sustain the momentum of its accelerated growth chiefly on account of judicious product mix, improved capacity utilisation, better realisations and improved cost efficiencies, despite continuous rising input costs.

UNI PC ADG DB1643