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Our Bureau

Post combined profit of Rs 6,600 cr

New Delhi , Oct. 11

The 15 public sector undertakings under the Ministry of Steel have notched up a combined profit of around Rs 6,600 crore during the first half of 2006-07.

This was revealed at a review meeting held by the Ministry here on Tuesday, an official release said.

The increase is around 17 per cent compared to the combined profits of these 15 PSUs in the first half of 2005-06.

Loss making units

One of the loss making units Bharat Refractories Ltd had been able to significantly scale down its losses in the first half of the current financial year as compared to the same period in the previous fiscal.

However, there had been a substantial reduction in the profits of Kudremukh Iron Ore Company Ltd on account of the cessation of mining of iron ore from the Eastern Ghats pursuant to the Supreme Court's orders, the release added.

Production

The saleable steel production by the Steel Authority of India Ltd and Rashtriya Ispat Nigam Ltd increased by around 4 per cent in the first half of this financial year as compared to the same period last year.

The saleable steel production of the two companies together stood at around 7.57 million tonnes.

Production of ferro manganese by Manganese Ore India Ltd recorded a more than 200 per cent increase from last year's level of 1,540 tonnes to 4,960 tonnes.

The Ferro Scrap Nigam Ltd also registered a significant jump in its slag production figures from around 14 lakh tonnes in the first half of 2005-06 to around 17 lakh tonnes during the current half year.

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