Visakhapatnam, Aug. 24
RASHTRIYA Ispat Nigam Ltd (Vizag Steel Plant) earned a record net profit of Rs 2,008.09 crore during 2004-05 against Rs 1,547.19 crore during the previous year, showing an increase of 30 per cent.
According to a company press release, the shareholders adopted the director's report and the audited accounts for the financial year 2004-05 at the annual general meeting (AGM) here on Wednesday. The AGM was chaired by Mr Y. Sivasagara Rao, the company's Chairman and Managing Director.
The sales during the year increased to Rs 8,181 crore (Rs 6,169 crore).