Ispat nets profit

Mumbai, Jan 20 | Updated: Jan 21 2007, 06:32am hrs
ISPAT Industries Limited has posted a net profit of Rs 17.52 crore for quarter ending December, 2006, against a loss of Rs 217.03 crore for the same period last year.

Total income at Rs 1865.26 crore was higher by 46% from Rs 1276.65 crore during the same period last year.

The improved performance was largely due to higher production and sales achieved by scaling up capacity utilisation and a conscious shift towards value added product mix.

Ispats Hot Rolled Coil production in during the quarter saw a 20% jump to 7.03 lakh tonne.

The company is now looking at further expanding its capacity at its integrated steel complex at Dolvi, Maharashtra to 5 million tonne.