Steel maker and trader Steel Exchange India Ltd has reported a net profit of Rs 5.85 crore for the quarter ended December 31, up from Rs 3.86 crore in the year-ago period.
Its sales, however, fell marginally to Rs 304.89 crore during the quarter, from Rs 355.22 crore in the corresponding period of last fiscal. B. Satish Kumar, Managing Director, said: “With the recent launch of our captive power plant, the company will have substantial savings in costs apart from assured supply of power. These savings will be reflected in the coming quarters.”
Besides manufacturing steel, the company has a portal-based steel trading platform