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Usha Martin Ltd on Thursday reported a near 60 per cent drop in consolidated net profit to around Rs 15 crore for the quarter ended March 31, 2012.
The company had reported a net profit of around Rs 36 crore for the corresponding quarter last fiscal.
According to the company’s results available on the BSE, the steel wiremaker has seen a near 11 per cent jump in consolidated income to Rs 954 crore during the quarter. Consolidated income during the same quarter last fiscal stood at Rs 862 crore.
On a standalone basis net profit for Usha Martin dipped to Rs 76 lakhs for the quarter ending 31 March 2012. The company’s standalone income stood at Rs 831 crore.
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