TMT bar maker Kamdhenu today reported a 56.5 per cent rise in its net profit at Rs 3.13 crore for the second quarter ended September 30.
The company had posted a net profit of about Rs 2 crore during the same period a year ago.
During July-September 2017, the company's total income was Rs 271.30 crore, up 44 per cent from Rs 188.70 crore in the corresponding period of the preceding fiscal, the company said in a BSE filing.
It's total expense during the said quarter was at Rs 266.45 crore, as against Rs 185.85 crore a year ago.
In a statement, Kamdhenu Ltd Chairman and Managing Director Satish Kumar Agarwal said, "The second quarter was marked by the adoption of the new GST regime which is expected to spur growth prospects of all key sectors of the economy including steel."
The e-way bill helped the shipment to reach the destinations on time. The on-time deliveries helped in getting on-time payments and resulted in no interruption in supply chain, he said.
During the half year - April-September - the company added added 6 new franchisees, Agarwal added.
On the outlook for domestic steel sector, Agarwal said there there are huge opportunities arising out of high growth in the real estate and construction sector supported by the various steps taken by the government to achieve its 'Housing for All' objective by 2022.
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