India Coal Market Watch
November 5: The net profit of Uttam Galva Steels Limited decreased 66.8% to Rs 2.03 crore in the quarter ended September 30, 2015 from Rs 6.13 crore during the same period last year, the company said in a filing to the stock exchange. The reason behind the fall was increase in interest payment in this quarter.
The PAT of Q2 was 9.13% higher compared to Rs 1.86 crore in Q1. The net profit for the first six months (April to September) decreased sharply by 75.17% to Rs 3.89 crore in H1 of 2015 from Rs 15.67 crore in H1 of 2014.
Though the net profit came down significantly, the year-on year income from operations grew 16.98% to Rs 1,938.36 crore from Rs 1,656.88 crore in the same quarter of the previous fiscal.
Uttam Galva Steels Limited is a leading manufacturer of cold rolled (CR) steel and galvanised steel (GP) in western India.