Vardhman Special Steels Limited Reports Unaudited Standalone Earnings Results for the Second Quarter and Six Months Ended September 30, 2014
November 08, 2014 at 06:20 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, 2014. For the quarter, the company reported total income from operations (net) of INR 1,668.8 million compared to INR 1,502.5 million a year ago. Loss from operations before other income, finance costs and exceptional items was INR 23.7 million compared to INR 47.9 million a year ago. Loss from ordinary activates before tax was INR 91.9 million compared to INR 127.1 million a year ago. Net loss was INR 91.9 million or INR 4.95 per basic and diluted share before and after extraordinary items (not annualized) compared to INR 103.6 million or INR 5.58 per basic and diluted share before and after extraordinary items (not annualized) a year ago.
For the six months period, the company reported total income from operations (net) of INR 3,122.4 million compared to INR 2,753.4 million a year ago. Loss from operations before other income, finance costs and exceptional items was INR 10.1 million compared to INR 56.5 million a year ago. Loss from ordinary activates before tax was INR 118.6 million compared to INR 136.1 million a year ago. Net loss was INR 118.6 million or INR 6.39 per basic and diluted share before and after extraordinary items (not annualized) compared to INR 109.6 million or INR 5.91 per basic and diluted share before and after extraordinary items (not annualized) 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.