SIIL’S
Q1 SALES UP 14 PER CENT
The Sponge Iron (India) Ltd. (SIIL), Hyderabad has produced 15,740
tonnes of sponge iron during the first quarter of this fiscal
against 15,715 tonnes during the same period last year. Its sales
of 17,873 tonnes is 14 per cent more than the sales of 15,678
tonnes during first quarter of 2001-2002. The company has fulfilled
the targets almost in all areas and the consumption of coal during
the year has been the lowest since inception. The production,
sales and average sales realization achieved during this first
quarter are the best 1st quarter figures since inception.
This formation was revealed in a review meeting taken today by
the Steel Secretary Shri N.N. Khanna.
The Chairman-cum-Managing Director of the Company Shri Rajat
Chakravarthy said that the gross margin of Rs. 158 lakh and cash
profit of Rs. 146 lakh during these three months has been 6.04
and 4.29 per cent more than the first quarter of last year. The
net profit at Rs. 51 lakh has been 2 per cent more than the last
year’s first quarter.
The overall performance of the company during 2001-02 was the
best since inception. The production of 64.507 tonnes of sponge
iron was 113.17 per cent of the target and showed a growth of
15.63 per cent over the production of 2000-01. The capacity utilization
of 107.5 per cent was also the best since inception.
