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COIMBATORE: Indsil Electrosmelts Ltd (IEL) has recorded a 42 per cent jump in sales in Q1 (July-September) compared with the same quarter in the previous fiscal.

The net profit has shown a growth of more than 300 per cent on year-on-year basis, the company has said in a release here.

While the sales in Q1 of this year was Rs 21.03 crore (Rs 14.71 crore), the cash profit was Rs 4.14 crore (against a loss of Rs 61 lakh) and profit before tax was Rs 3.30 crore (against a loss of Rs 1.45 crore).

The company operates two divisions - a smelter division with its plants at Palakkad and a power division that operates a 21 MW hydel power plant in Idukki, both in Kerala.

The power division recorded a profit before depreciation interest in tax (PBDIT) of Rs 2.42 crore and the smelter division showed a PBDIT of Rs 3.08 crore during the quarter.

The company said that on a year-on-year basis the operating profits of power division grew by more than 220 per cent and the smelter division by more than 500 per cent, the company said.

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