Financial Daily from THE HINDU group of publications
Friday, Jun 11, 2004
Financial Daily from THE HINDU group of publications Friday, Jun 11, 2004 |
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Corporate
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Performance Salem Steel Plant sales turnover up at Rs 557 cr Our Bureau
Coimbatore , June 10 THE public sector Salem Steel Plant's (SSP) improved performance in the last fiscal has lifted up its gross margin and also helped it bring down its interest burden during the 2003-04 financial year. The special steel unit of Steel Authority of India Ltd has ended the financial year with a higher sales turnover of Rs 557 crore, up by Rs 130 crore from the previous year's Rs 427 crore. The plant could achieve a net profit of Rs 2 crore against last year's net loss of Rs 119 crore, according to a SSP press release. The unit's gross margin for the year stood at Rs 81.7 crore from the negative gross margin of Rs 1.25 crore last year. Its interest burden fell to Rs 36 crore from Rs 73 crore.
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