Ramsarup Industries Ltd, the second largest producer of coated and uncoated steel wire, has posted 26 per cent rise in net profit at Rs 15.78 crore in the first quarter of the current fiscal as against Rs 12.54 crore in the comparative quarter last year.
Total income of the company surged 8 per cent to Rs 383.05 crore from Rs 354.73 crore while operating profit increased 35 per cent to Rs 41.88 crore as compared to Rs 30.95 crore.
The company attributed the performance growth to 26 per cent, growth in export sales at Rs 37.36 crore in the first quarter of the current fiscal as compared to Rs 29.70 crore in the comparable quarter last year.
Infrastructure division of the company bags further order worth Rs 82 crore for various infrastructure turnkey projects including laying of 132/ 220 KVA power transmission line from RRVPNL under joint venture.
On commencement of the single line LRPC unit, scheduled for September 2008, Ramsarup will be the first company in India to produce such products.
Plating Line Plant to produce hose wire, to be imported from European company, is under full swing of implementation at Durgapur site of the company . Plant is expected to be completed during current financial year .
The Company is well on track with their plan to produce 6 lakh MTPA of steel wires and upstream wire products from current level of 2.88 lakh MTPA.
