Usha Martin Consolidated Turnover Up 12%

Kolkata, India  Usha Martin Limited, leading producer of Specialty Steel and one of the largest Wire Rope manufacturer globally announced its result for the second quarter and half year ended 30th September 2012.

Usha Martin has reported a consolidated net profit of Rs 22.85 crore (about US $4.2 Million) in Q2FY13 against a net loss of Rs 62.69 crore (about US $ 11.5 Million) in the same period last year.

During the quarter, the company’s turnover increased by 12% on a consolidated basis and 16% on stand-alone basis. Net sales on consolidated basis went up to Rs 939 crore (about US $ 173 Million) in the second quarter ending September 30, 2012 against Rs 827.58 crore (about US $ 152 Million) in the previous corresponding period.

The company cited coal production up by 138%, iron ore production up by 30%, billet production up by 19%, and export sales up by over 27% despite suboptimal business conditions hindered by the slowdown in domestic auto sectors.

Usha Martin Group is a USD 1 billion conglomerate with a global presence.  The group has set new standards in the manufacture of wire rods, bright bars,  steel wires, speciality wires, wire ropes, strand,  conveyor cord, wire drawing and cable machinery.  With continuous growth in both the domestic and international markets, Usha Martin, the Group’s flagship company has emerged as India’s largest and the world’s Second largest steel wire rope manufacturer.

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