Financial Daily from THE HINDU group of publications
Tuesday, Oct 21, 2003
Financial Daily from THE HINDU group of publications Tuesday, Oct 21, 2003 |
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Corporate Results
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Steel Monnet Ispat net, turnover up in Q2 Our Bureau
New Delhi , Oct. 20 MONNET Ispat Ltd has reported a 15 per cent increase in its turnover during the second quarter. The turnover of the company for the quarter stood at Rs 52.26 crore. The company's profitability saw a jump of 122 per cent from the corresponding quarter of the previous year to Rs 9.04 crore from Rs 4.08 crore. Monnet Ispat also declared an interim dividend of 15 per cent. "The increase in profitability is attributed to a higher productivity and improved sales realisation in sponge iron and steel. The company is benefited from the general price rise in the industry and also due to reduction in direct and indirect overheads," according to a communiqué.
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