Uttam Galva Steels today reported a rise of 12.53% in net profit to Rs 10.24 crore for the quarter ended June 30, 2012, despite increase in interest payments and rise in tax outgo.
The company, which manufactures cold rolled steel and galvanized steel products, had reported a net profit of Rs 9.10 crore during the corresponding quarter of the last fiscal.
Net sales of the company was up over 34% to Rs 2,057.72 crore during the quarter against Rs 1,533.21 crore in the April-June period of FY12, it said in a filing to the BSE.
The company's total expenditure during the quarter stood at Rs 1,954.46 crore. Besides, its interest payments was up over 24% to Rs 81.43 crore, while the tax outgo multiplied nearly three times to Rs 12.72 crore during the quarter.
Shares of the company today closed at Rs 66.75 apiece on the BSE, up 0.91% from the previous close.
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