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Mumbai, Feb 1 Uttam Galva Steels Ltd has posted a 29 per cent rise in net profit for the quarter ended December 31, 2007 at Rs 29.15 crore against Rs 22.63 crore clocked for same quarter of the previous year.

Net sales for the quarter were up 12 per cent at Rs 582.69 crore (Rs 520.40 crore). Mr Ankit Miglani, Director (Commercial), Uttam Galva Steels Ltd, said, “Our focus on value addition combined with operational efficiencies contributed to our healthy bottomline.”

Uttam Galva has tied up with Ispat Industries to buy five lakh tonnes of HR coils per annum.

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