Shree Cements, TNPL & Uttam Galva results

CORPORATE SCORECARD

Shree Cements net up 35 per cent

H M Bangur group cement outfit Shree Cement Ltd has posted a net profit of Rs 16.48 crore in the third quarter of the current fiscal, which is almost 35 per cent higher than the net profit of Rs 12.05 crore achieved in the corresponding period of the previous fiscal.

The net sales also jumped from Rs 110.2 crore in the third quarter of 2003-04 to Rs 139.39 crore the corresponding period of 2004-05.

It has achieved a 111 per cent rise in its net profit for the nine months ended December 2004, which stood at Rs 59.42 crore as against Rs 28.21 crore recorded in the corresponding period of last year.

TNPL net profit plummets 79%

Tamil Nadu Newsprint and Papers Ltd reported a 79 per cent drop in net profit to Rs 3.49 crore for the quarter ending December 31, 2004 from Rs 16.46 crore for the same period the previous year.

The company's turnover increased by 13.26 per cent to Rs 180.64 crore for the quarter ending December 31, 2004.

A TNPL release said the profits were affected by increase in cost of coal and other inputs and bagasse shortage owing to the drought in Tamil Nadu in the previous two sugar seasons, and consequent usage of more purchased pulp. The bagasse supply position has improved since December 2004.

Uttam Galva net rockets 728%

Uttam Galva Steels (UGSL) has posted a whopping 728.1 per cent increase in its net profit at Rs 25.01 crore for the quarter ended December 31,2004 against Rs 3.02 crore last year's corresponding quarter.

Net sales also registered a growth of 104.4 per cent at Rs 524.92 crore for the third quarter this year compared with Rs 256.76 crore during the last year's corresponding quarter.

In a media release, chairman and managing director Rajinder Miglani said the impressive performance in the third quarter has been a result of uninterrupted raw material supply of hot rolled coils.