The Sponge
Iron India Ltd. (SIIL), a public sector undertaking of the Steel
Ministry is poised to make a net profit of more than Rs. 6 crore
against the target of Rs. 2.20 crore for this fiscal. The sales
realisation has gone up to Rs. 6675 per tonne in January this
year which is an all time high. This information was given to
the Minister for Steel Shri Braja Kishore Tripathy while he
was reviewing the first three quarters' performance of the company
here today.
The production,
sales and power generation by the company during April-December
2002 have been 52, 069 tonnes, 53,912 tonnes and 79.52 lakh
units registering growth of 9 per cent, 20 per cent and 20.8
per cent over the achievements during the corresponding period
of last year. The gross margin and net profit during this period
have been Rs. 637 lakh and Rs. 350 lakh registering a growth
of 171 per cent and 775 per cent respectively than the same
period last year.
The Minister
expressed happiness over the excellent all round performance
of the company. He asked the management to take steps to lower
the iron ore consumption in production process.
