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Uttam Galva registers two-fold jump in Q4 standalone net profit

10 May 2012 Evaluate

Uttam Galva Steels’ standalone net profit surged about two-fold to Rs 40 crore for the fourth quarter ended March 31, largely on account of increased efficiency in operations. The company had reported a net profit of Rs 14.05 crore during the January-March quarter of 2010-11.

However, net sales of the company, in which world’s largest steel maker ArcelorMittal holds 34.42% stake, were down over 23% to Rs 1,241.46 crore during the quarter.

The company’s total expenditure during the January-March quarter came down by about 28% to Rs 1,107.37 crore, while its finance costs were also down by 21% to Rs 55.46 crore.

For the full year ended March, 2012, the company reported a decline of 4.62% in consolidated net profit at Rs 73.10 crore. Its net sales, however, were up over 12% at Rs 5,647.38 crore during the period.

Uttam Galva Steels Share Price

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