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Essar Steel posts higher net income
AHMEDABAD: The Hazira-based Essar Steel Ltd. has recorded a net profit of Rs. 50.44 crores in the first quarter of the current financial year against Rs. 10.25 crores during the same period last year. According to a spokesman of the company here, the net income during the period this year went up to Rs. 1,327.74 crores from Rs. 722.14 crores last year. Supported by an upbeat international market, the company's production during the period this year went up by 25 per cent to 5.59 lakh tonnes from 4.46 lakh tonnes last year. Exports increased by 15 per cent to 1.73 lakh tonnes while the domestic sale rose by 38.5 per cent to 3.52 lakh tonnes. — Our Special Correspondent
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