Usha Martin posts Rs.22.85 crore Q2 net profit

Last Updated: Tue, Nov 06, 2012 14:30 hrs

Kolkata, Nov 6 (IANS) Leading wire rope and specialty steel manufacturer Usha Martin Tuesday reported a consolidated net profit of Rs.22.85 crore for the quarter ended Sep 30, 2012, against a net loss of Rs.62.69 crore for corresponding period last year.

Net sales of the Kolkata-based company during the period under review increased to Rs.938.98 crore from Rs.827.58 crore in the same period a year ago.

Suboptimal business condition, slowdown in domestic auto sector kept sales and margins under pressure, the company said in a release.

"Implementation of new projects to further enhance competitiveness in specialty steel segment - beneficiation, pellet, coke oven, DRI and 35 MW waste heat power - are underway," it added.

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