Electrosteel Q3FY14 net at Rs 33.73 crore

KOLKATA: Electrosteel Castings, a leading player in water infrastructure business, reported a marginal growth in net profit for the quarter ended December 31, 2013 to Rs 33.73 crore against a net profit of Rs 33.09 crore in the previous corresponding quarter. The company's revenue grew almost 4% to Rs 490.91 crore during the quarter under review.

The company has posted a net profit of Rs 53.77 crore for nine months ended December 31, 2013 as against a net profit of Rs 52.79 crore for the previous corresponding period. While the company's profit before tax ( PBT) registered a growth of 14.70% during the nine month period, revenue for the nine month period ended December 31, 2013 reached Rs 1,501.23 crore, registering an 8.8% growth. EBIDTA (Earnings Before Interest Depreciation Tax & Amortisation) margins improved to 19.8% for the quarter and 14.4% during the nine-month period on account of better sales realization and drop in raw material cost. EBIDTA for the quarter and nine months ended December 31, 2013 stood at Rs 97.44 crore and Rs 216.68 crore respectively, registering a growth of 15.4% and 15.3%.