The galvanised steel manufacturer and exporter Uttam Galva Steels Ltd (UGSL) reported 17 per cent rise in net profit at Rs 26.59 crore in the first quarter of the current fiscal as compared to Rs 22.75 crore in the corresponding period last year.
Net sales for the quarter surged 11 per cent to Rs 802.97 crore from Rs 721.98 crore while EBIDTA perked up 60 per cent to Rs 106.10 crore from Rs 66.51 crore. Profit before tax, too, boosted 26 per cent Rs 32.36 crore from Rs 25.72 crore.
“We will continue maintaining our export thrust, it is our constant endeavor to increase our volumes in the domestic market. The thrust is to strengthen our topline and bottomline and enhance profitability," Ankit Miglani, director (Commercial) said while announcing the result.
The company attributed the growth in turnover to higher realisation from exports markets. Global sales contributes above 70 per cent of the company’s turnover.