Monnet Ispat Q4 net jumps 44%
The substantial jump in the profit is attributed to better productivity and various cost control measures taken by the company during the quarter.
By ET Online |
New Delhi: Monnet Ispat & Energy Ltd has recorded a net profit of Rs 72.47 crore in the 4th quarter of 2009-10 vis-a-vis Rs 50.17 cr achieved in the corresponding quarter of the last fiscal, showing an increase of 44%. The substantial jump in the profit is attributed to better productivity and various cost control measures taken by the company during the quarter. The company has also reported an increase of over 18% in sales from Rs 393.91 cr to Rs 467.37 cr during the quarter.
The company is implementing a 1.5 MTPA steel facility as forward integration which will constitute of heavy structural and plate at its facility in Raigarh, Chhattisgarh. It is also implementing a 1050MW power plant at Angul in Orissa in its 100% subsidiary company Monnet Power Company Ltd (MPCL).
The company is implementing a 1.5 MTPA steel facility as forward integration which will constitute of heavy structural and plate at its facility in Raigarh, Chhattisgarh. It is also implementing a 1050MW power plant at Angul in Orissa in its 100% subsidiary company Monnet Power Company Ltd (MPCL).
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