Vardhman Special Steels Limited Reports Unaudited Standalone Earnings Results for the Second Quarter and Six Months Ended September 30, 2016
November 12, 2016 at 04:37 am EST
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Vardhman Special Steels Limited reported unaudited standalone earnings results for the second quarter and six months ended September 30, 2016. For the quarter, the company reported total income from operations (net) of INR 1,917 million compared to INR 1,863.3 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 123.6 million compared to INR 47.0 million a year ago. Profit before tax was INR 64.0 million compared to INR 3.9 million a year ago. Net profit was INR 64.0 million or INR 3.45 per basic and diluted share compared to INR 3.9 million or INR 0.21 per basic and diluted share a year ago.
For the six months period, the company reported total income from operations (net) of INR 3,703.7 million compared to INR 3,695.1 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 228.9 million compared to INR 63.9 million a year ago. Profit before tax was INR 107.2 million compared to loss before tax of INR 34.1 million a year ago. Net profit was INR 107.2 million or INR 5.78 per basic and diluted share compared to net loss of INR 34.1 million or INR 1.84 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.