The Hindu Business Line : Siscol net sales up at Rs 213 cr in Q4

Coimbatore April 26 Southern Iron and Steel Company Ltd (Siscol), belonging to the O.P. Jindal group, posted net sales of Rs 213.90 crore in the last quarter of 2006-07 compared to Rs 153.70 crore in the corresponding period in the previous year.

According to the audited financial results, the gross sales in the quarter ending March 31, 2007, was Rs 250.22 crore (Rs 178.43 crore). After adjusting excise duty, the net sales was Rs 213.90 crore (Rs 153.70 crore). The total expenditure was Rs 176.17 crore (Rs 119.62 crore).

After providing for interest, depreciation, taxation, etc, the net profit was Rs 41.83 crore (Rs 36.75 crore).

For the full year (2006-07), the company reported net income of Rs 688.41 crore (Rs 496.93 crore) and net profit of Rs 55.04 crore (Rs 41.26 crore). The EPS was Rs 2.06. The company's chairman, Mr J.K. Tandon, releasing the results, said while steel production during 2006-07 was higher by 40 per cent compared to 2005-06, the sales realisation was higher by 37 per cent, the EBIDTA increased by 152 per cent and profit after tax was higher by 33 per cent in 2006-07 compared to the previous year.

The profit margin was higher because of improved performance, volume mix, higher sales realisation, etc.