Tuesday, July 29, 2008

Jai Balaji Industries posts yet another impressive results

Kolkata, 29th July 2008: Jai Balaji Industries Limited have once again posted impressive results for the quarter ended 30th June , 2008. Total Income for the quarter was Rs 470.74 crore as compared to Rs 252.79 crore in the same period last year, reflecting an increase of 86 %. The profit before tax and net profit for the quarter were Rs 60.55 crore (Rs 35.79 crore) and Rs 46.30 crore (Rs 23.59 crore) respectively, showing a hefty increase of 69% and 96 % respectively. The earning per share has gone upto Rs.9.82 for Rs.5.01 quarter on quarter basis. 

Regarding the expansion plans at its Durgapur plant, the company has already commenced trial production for its Sinter Plant having a capacity of 0.6 million tonne and shall declare commercial production immediately of handing over the same by the technical team. Moreover, the Electric Arc Furnace ( EAF ) project is on schedule the company is hopeful to commence trial production of the same in this quarter. Other projects viz. Ferro Alloys plant with a capacity of 0.25 lac tonne p.a and another 35 MW Captive Power Plant at Durgapur are on schedule and to commence production during this year. 

Commenting on the results and the future plans of the company, Aditya Jajodia, Chairman & Managing Director, Jai Balaji Industries said, ‘the company has been consistently delivering continuous growth both in topline as well as in the bottomline with the support of its stakeholders. With our expansion plans moving ahead as per schedule, we are confident that Jai Balaji Industries will grow into a large and efficient steel company.’




No comments: