Net profit of the
Sponge Iron India Limited (SIIL), a public sector undertaking
of the Steel Ministry has shown spectacular growth during April-December
2002. It was estimated at Rs. 3.5 crore during this period almost
double the amount of Rs. 1.79 crore for the same period last year.
The cash profit during these nine months has increased from Rs.
4 crore to Rs. 5 crore and gross margin from Rs. 4.14 crore to
Rs. 6.37 crore.
During the period,
the company produced nearly 52,000 tonnes of sponge iron and sold
nearly 53,000 tonnes worth Rs. 30 crore in the domestic market.
During the month of December, SIIL produced 5570 tonnes of sponge
iron and sold 5230 tonnes against 4700 tonnes and 4320 tonnes
respectively during the same month last year. With these achievements,
the company aims at achieving a net profit of Rs. 5 crore and
a production of more than 70,000 tonnes during this financial
year.
