Vardhman Special Steels Limited Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017
February 03, 2018 at 03:24 am EST
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Vardhman Special Steels Limited reported unaudited earnings results for the third quarter and nine months ended December 31, 2017. For the quarter, the company reported income from operations of INR 2,184.2 million compared with INR 1,921.4 million a year ago. Total income from operations was INR 2,194.0 million compared with INR 1,924.6 million a year ago. Profit before tax was INR 95.4 million compared with INR 37.0 million a year ago. Net profit after tax was INR 95.4 million or INR 2.97 per basic and diluted share compared with INR 37.0 million or INR 1.99 per basic and diluted share a year ago.
For the nine months, the company reported income from operations of INR 6,465.3 million compared with INR 5,618.9 million a year ago. Total income was INR 6,503.4 million compared with INR 5,628.3 million a year ago. Profit before tax was INR 178.2 million compared INR 144.1 million a year ago. Net profit after tax was INR 178.2 million or INR 5.93 per basic and diluted share compared with INR 144.1 million or INR 7.77 per basic and diluted share a year ago.
Vardhman Special Steels Limited is an India-based company engaged in the business of manufacturing special and alloy steels. The Company is engaged in producing high-grade billets and hot-rolled bars for varied applications in engineering, automotive, tractor, bearing and allied industries. It produces a variety of steels in terms of type and size. The Company offers products, such as hot rolled, round corner square, peeled and reeled bars, peeled and ground bars, drawn and ground bars, and heat treatment bars. The Company also offers Carbon Steel, Carbon Manganese Steel, Case Hardening Steel, Chrome Steel, Chrome Manganese Steel, Chrome-Moly Steel, Nickel Chrome / Nickel Chrome Moly Steel, Through Hardening Steel, Boron Steel, Micro Alloyed Steel, Vanadium Steel, Nitriding Steel, Ball Bearing Steel, Free/Semi Free Cutting Steel, Spring Steel and High Titanium Steel. It manufactures products using technologies, such as Steel Melting, Bright Bar, Rolling Mill and Heat Treatment.