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Kolkata, Jan. 29 Usha Martin Ltd has recorded a net profit of Rs 41.23 crore during the period October-December 2007. This is higher by 3 per cent compared with a net profit of Rs 39.95 crore recorded during the corresponding period in 2006. The net sales income stood at Rs 555.21 crore (Rs 480.38 crore), a growth of 16 per cent.

Addressing a news conference here on Tuesday, Mr Prashant Jhawar, Vice-Chairman of Usha Martin Ltd, said the company has hiked its capital investment outlay from Rs 1,250 crore to Rs 2,100 crore. He said the additional Rs 850 crore would be spent on minerals enrichment by setting up a beneficiation plant and a pellet plant, optimising available mineral resources, achieving self-sufficiency in power and on augmenting the production of value-added products like wire ropes, wires, bright bars, etc.

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