Tata Sponge Iron has reported results for first quarter ended June 30, 2014.
The company’s net profit for the quarter increased over two fold to Rs 44.28 crore for the quarter as compared to Rs 18.04 crore for the quarter ended March 31, 2013. The company’s total income from operations rose by 23.52% at Rs 203.12 crore for the quarter under review as compared to Rs 164.44 crore for the corresponding quarter of the previous fiscal.
Tata Sponge Iron is engaged in business of manufacturing high-grade sponge iron that is consistent in quality. The company has an annual manufacturing capacity of 390,000 tonnes of sponge iron from its three kilns. Its production plant is situated at Bilaipada in Orissa.
