Ushdev International Ltd (UIL), a leading corporate house in the country to trade in ferrous and non-ferrous metals, has announced its financial performance for the quarter and half year ended September 30, 2011.
Consolidated net sales for the quarter ended September 30, 2011 stood at Rs 1,198.73 crore, registering a whopping jump of 85.96%, as compared to Rs 644.61 crore in the same period last year.
The growth in net sales was mainly contributed by full fledged functioning of our wholly owned subsidiaries in HongKong and Singapore and addition of new customers and products to our portfolio.
Consolidated net profit for Q2FY12 stood at Rs 12.44 crore, as compared to Rs 13.82 crore in the corresponding period previous year. A marginal fall of about 10% in net profit was on the back of increase in finance costs.
Earnings per share (EPS) for Q2FY12 worked out to Rs 4.23 as compared to Rs 4.70 for the same period of last fiscal.
For the half-year ended September 30, 2011, the company’s consolidated net sales stood at Rs 2,370.78 crore, registering an impressive rise of 76.83% as against Rs 1,340.64 crore of H1FY11. However, net profit fell marginally by 1.75% to Rs 25.13 crore in H1FY12 as against Rs 25.58 crore of the corresponding period last year.
Consolidated EBIDTA for H1FY12 increased by 34.07% to Rs 94.36 crore as against Rs 70.38 crore of H1FY11 (the company had add-back depreciation).
Commenting on the quarterly financial performance of the company, Mr. Prateek Gupta, Managing Director, Ushdev International Ltd, said that “we are very pleased with impressive growth in our topline and are hopeful to maintain the pace in coming quarters and achieve our desired target.”
Segmental Performance (Q2FY12):
In the segmental performance, the company’s metal trading business (net sales) rose by 86.75% to Rs 1,191.91 crore, as compared to Rs 638.23 crore of the same period a year earlier.
The company’s power generation business too registered a good growth during the quarter and net sales rose by 6.73% to Rs 6.81 crore for the three-month period ended September 30, 2011, as compared to Rs 6.38 crore of the corresponding quarter a year ago.
