Visa Steel posts Rs 8.71cr profit

Visa Steel, part of the Rs 5,000-crore Kolkata-based Visa Group with interests in steel, power, shipping and logistics, has posted a net profit of Rs 8.71 crore during the second quarter (July-September) of this fiscal. The company recorded a revenue of Rs 252.81 crore and EBITDA (earnings before interest, tax, depreciation and amortization) of Rs 44.24 crore during the said period. Commenting on the company's second quarter performance, Vishal Agarwal, managing director, Visa Steel said, “The revenues during the second quarter of 2009-10 have been stable despite the sharp fall in sales realizations of our products.” “We have focused on reducing our raw material costs especially that of coking coal, iron ore and chrome ore. Power costs have also fallen significantly due to the commissioning of the 50 MW power plant”, he added.

Orissa Manganese net profit at Rs 13.11 crore

Orissa Manganese & Minerals Ltd, a 100 per cent subsidiary and mining arm of Adhunik Metaliks Limited has reported a net profit of Rs 13.11 crore in quarter ended September 30, 2009 compared to Rs 1.20 crore, an increase of 992.5 per cent. Net Sales for the period stood at Rs 41.98 crore compared to Rs 31.11 crore in the corresponding quarter last year.