*Uttam Galva Steels* (UGSL), India`s largest single site standalone manufacturer-exporter of value added steel products has recorded an impressive performance for the quarter ended Dec. 31, 2008.
Sales for the quarter rose to Rs 11.02 billion, up by 89% compared to Rs 5.82 billion while sales volume increased by 50% as compared to the corresponding quarter of the previous year. Production for December, 2008 quarter rose by 38% to 1.59 lakh tons from 1.15 lakh tons for the same quarter last year. Operating profit for December, 2008 quarter rose to Rs 769.9 million as against Rs 717.5 million for the same period last year. Ankit Miglani, director (commercial), Uttam Galva (Q<http://myiris.com/shares/company/quoteShow.php?icode=UTTSTEEL>, N <http://myiris.com/shares/news/corporateNews.php?cSelect=5&icode=UTTSTEEL> ,C <http://myiris.com/shares/company/chartShow.php?cSelect=2&icode=UTTSTEEL> ,F)<http://myiris.com/shares/company/financial.php?cSelect=3&icode=UTTSTEEL>* Steels, said, ``The steep downslide in global steel prices has resulted in losses due to high priced inventories which have affected margins. We have liquidated most of such inventory stock in this quarter and the same is reflected in our results. The next quarter should see normalization of margins.`` In the domestic market, the company is a major supplier to the automobile, white goods, general engineering and construction industries. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
