Uttam Galva Steels reports sales increase of 83%, PAT up 885%

By Our Corporate Bureau | 18 Jan 2005

Mumbai: Mid-cap steel major Uttam Galva Steels Ltd. (UGSL), one of the largest producers of CR and GP / GC products in Western India has claimed an impressive performance in the nine months ended December 2004. According to a press release, the company's sales turnover for the period stood at Rs1,606.15 crore, up by 83 per cent compared to Rs878.20 crore of the corresponding nine months of the last year.

In the third quarter ended 31 December 2004, the sales turnover climbed to Rs539.58 crore, up by 98 per cent when compared to Rs272.08 crore of the corresponding quarter last year.
The net sales (excluding excise) for nine months ended December 2004 stood at Rs1,556.15 crore, up by 87 per cent as compared to Rs832.89 crore in the corresponding period last year.

The net sales (excluding excise) for Q3 '05 stood at Rs524.92 crore, up by 104 per cent as compared to Rs256.76 crore in the corresponding quarter last year. Exports at Rs1012.10 crore constituted 63 per cent of the total sales during the period, up by 88 per cent, compared to Rs539.52 crore in the corresponding period last year. Exports at Rs. 391.22 crore constituted 72 per cent of the total sales in Q3 '05, up by 160 per cent, compared to Rs.150.38 crore in the corresponding period last year.

The PAT for nine months ended December 2004 is up by 885 per cent to Rs63.61 crore as compared to Rs6.46 crore in the same period last year. The PAT for Q3 '05 is up by 728 per cent to Rs.25.01 crore, compared to Rs3.02 crore during the same quarter last year.