Facor Steels Ltd. Announces Audited Earnings Results for Fourth Quarter and Full Year Ended Mar. 31, 2014
May 22, 2014 at 09:14 am EDT
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Facor Steels Ltd. announced audited earnings results for fourth quarter and full year ended Mar. 31, 2014. For the quarter, the company reported net sales/income from operations of INR 323.622 million, total income from operations of INR 328.496 million, loss from operations before other income, finance costs and exceptional items of INR 49.458 million, loss from ordinary activities before tax of INR 74.588 million, net loss of INR 74.588 million or INR 0.36 per basic and diluted share after extraordinary items compared to the net sales/income from operations of INR 236.821 million, total income from operations of INR 240.761 million, loss from operations before other income, finance costs and exceptional items of INR 71.084 million, loss from ordinary activities before tax of INR 96.689 million, net loss of INR 85.049 million or INR 0.41 per basic and diluted share after extraordinary items for the same quarter a year ago.
For the year, the company reported net sales/income from operations of INR 651.208 million, total income from operations of INR 659.261 million, loss from operations before other income, finance costs and exceptional items of INR 203.507 million, loss from ordinary activities before tax of INR 280.481 million, net loss of INR 280.481 million or INR 1.36 per basic and diluted share after extraordinary items compared to the net sales/income from operations of INR 2,460.596 million, total income from operations of INR 2,482.584 million, loss from operations before other income, finance costs and exceptional items of INR 201.606 million, loss from ordinary activities before tax of INR 296.646 million, net loss of INR 250.086 million or INR 1.21 per basic and diluted share after extraordinary items for the previous year.
Facor Steels Limited is engaged in the manufacture and sale of steel products. The Company manufactures semi-finished products of stainless steel; other bars and rods are not further worked than hot-rolled, hot-drawn for extruded of other steel, and bars and rods are not further worked than hot-rolled, hot-drawn or extruded for stainless steel. The Company is a producer of carbon/alloy steel/stainless and special steel. The Companyâs products include stainless steel, alloy steel, valve steel, free cutting steel, semi-free cutting steel, silico manganese steel, carbon manganese steel, and carbon steel, among others. The Company serves industries, such as the automobile & auto component industry, boilers, construction, engineering components, fasteners industry, forging, petrochemical, railway springs, surgical equipment industry, tool industry, valve industry, and sugar industry. It also supplies special steel for critical applications like aerospace, pressure equipment and others.