Electrosteel Castings Q1 Net Up 86%

Posted by: at 8/29/2016 12:36:00 am

Kolkata, 29th August 2016: 
Electrosteel Castings Ltd. has reported impressive figures for the quarter ended 30th June, 2016.

Total Income for the quarter stood at Rs.420.90 crores (Rs.479.03 crores) and EBITDA showed a healthy increase of 24% and stood at Rs.77.50 crores (Rs.62.50 crores). The EBITDA margins for
the period showed improvement on account of reduction in material cost and increased operational efficiencies.

Profit After Tax for the quarter showed a steep rise of 86% to Rs.10.07 crores as against Rs.5.40 crores for the corresponding quarter in the previous year. The Company has received part compensation amounting to Rs.73.20 crores on account of  deallocation of coal mine.

The Company has adopted the Indian Accounting Standards (IND_AS) notified by the Ministry of Corporate Affairs on February 16, 2015.Electrosteel Castings is a leading manufacturer of Ductile Iron Pipes, Ductile Iron Fittings and Cast Iron Pipes. The Company pioneered the manufacture of Ductile Iron Pipes in the country and is today India’s leading pipeline solutions provider. It has a strong brand presence around the world.

Electrosteel Castings Q1 Net Up 86%
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