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Usha Martin net profit up 29 percent
Tuesday, 13 May 2008, 19:30 IST
Kolkata: Usha Martin, one of the leaders in the steel industry, announced Tuesday that it has posted a jump of 29 percent in net profit in the last quarter of 2007-08.
The profit after tax (PAT) grew by 29 percent to 
505.2 million ($12.6 million) from 393 million of the year-ago-period. The net sales increased from 4.98 billion to 6.73 billion, a rise of 35 percent.
The board of directors of Usha has recommended dividend at 100 percent on the face value of Re.1 per share.
Usha managing director Rajeev Jhawar said: "Demand for value-added steel products helped us grow."
According to joint managing director P. Bhattacharya: "We are investing 21 billion on various segments of our business."
The company plans to increase steel-making capacity to 70,000 tonnes this fiscal and will further take it to 1 million tonnes by 2010.
Source: IANS
505.2 million ($12.6 million) from 393 million of the year-ago-period. The net sales increased from 4.98 billion to 6.73 billion, a rise of 35 percent.
The board of directors of Usha has recommended dividend at 100 percent on the face value of Re.1 per share.
Usha managing director Rajeev Jhawar said: "Demand for value-added steel products helped us grow."
According to joint managing director P. Bhattacharya: "We are investing 21 billion on various segments of our business."
The company plans to increase steel-making capacity to 70,000 tonnes this fiscal and will further take it to 1 million tonnes by 2010.
Source: IANS