Vardhman Special Steels Limited Announces Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2015
January 22, 2016 at 04:38 am
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Vardhman Special Steels Limited announced unaudited standalone earnings results for the third quarter and nine months ended December 31, 2015. For the quarter, the company reported net sales/income from operations (net of excise duty) of INR 16.311 million against INR 17.528 million a year ago. Total income from operations (net) was INR 16.358 million against INR 17.580 million a year ago. Profit from operations before other income, finance costs, and exceptional items INR 0.949 million against loss from operations before other income, finance costs, and exceptional items of INR 0.143 million a year ago. Profit from ordinary activities before tax was INR 0.469 million against loss from ordinary activities before tax of INR 0.395 million a year ago. Net profit from ordinary activities after tax INR 0.469 million against net loss from ordinary activities after tax of INR 0.395 million a year ago. Basic and diluted earnings per share before and after extraordinary items were INR 2.52 against basic and diluted loss per share before and after extraordinary items of INR 2.13 a year ago.
For the nine months, the company reported net sales/income from operations (net of excise duty) of INR 49.869 million against INR 48.716 million a year ago. Total income from operations (net) was INR 50.009 million against INR 48.804 million a year ago. Profit from operations before other income, finance costs, and exceptional items INR 1.983 million against loss from operations before other income, finance costs, and exceptional items of INR 0.244 million a year ago. Loss from ordinary activities before tax was INR 0.010 million against INR 1.581 million a year ago. Net loss from ordinary activities after tax was INR 0.010 million against INR 1.581 million a year ago. Basic and diluted earnings per share before and after extraordinary items were INR 0.05 against INR 8.52 a year ago.
Vardhman Special Steels Limited is an India-based company engaged in the business of manufacturing special and alloy steels. The Company is engaged in producing high-grade billets and hot-rolled bars for varied applications in engineering, automotive, tractor, bearing and allied industries. It produces a variety of steels in terms of type and size. The Company offers products, such as hot rolled, round corner square, peeled and reeled bars, peeled and ground bars, drawn and ground bars, and heat treatment bars. The Company also offers Carbon Steel, Carbon Manganese Steel, Case Hardening Steel, Chrome Steel, Chrome Manganese Steel, Chrome-Moly Steel, Nickel Chrome / Nickel Chrome Moly Steel, Through Hardening Steel, Boron Steel, Micro Alloyed Steel, Vanadium Steel, Nitriding Steel, Ball Bearing Steel, Free/Semi Free Cutting Steel, Spring Steel and High Titanium Steel. It manufactures products using technologies, such as Steel Melting, Bright Bar, Rolling Mill and Heat Treatment.