Tata Sponge Iron has reported results for the fourth quarter and year ended March 31, 2013
The company has reported a fall of 36.11% in its net profit at Rs 9.36 crore for the quarter ended March 31, 2013 as compared to Rs 14.65 crore for the same quarter in the previous year. However, total income of the company has increased by 15.04% at Rs 211.38 crore for quarter under review as compared to Rs 183.74 crore for the quarter ended March 31, 2012.
For the year ended March 31, 2013, the company has posted a rise of 12.88% in its net profit at Rs 85.43 crore as compared to Rs 75.68 crore for the same period in the previous year. Total income has increased by 25.53% at Rs 795.76 crore for year under review as compared to Rs 633.91 crore for the period ended March 31, 2012.
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.
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