Mahindra Ugine Steel Company said a sharp rise in standalone net profit for the quarter ended June 2014. During the quarter, the profit of the company rose 2.36 times to Rs 86.47 million from Rs 36.64 million in the same quarter last year.
Net sales for the quarter declined marginally 2.40% to Rs 1,779.23 million, compared with Rs 1,822.94 million for the prior year period.
Earnings per share for the quarter stood at Rs 2.64, registering 2.34 times growth over previous year period.
| Quarterly Results - Standalone (Rs in mn) |
| As at | Jun - 14 | Jun - 13 | %Change |
| Net Sales | 1,779.23 | 1,822.94 | (2.40) |
| Net Profit | 86.47 | 36.64 | 136.01 |
| Basic EPS | 2.64 | 1.13 | 133.63 |
Shares of the company gained Rs 13.65, or 3.32%, to trade at Rs 425.00. The total volume of shares traded was 185,354 at the BSE (12.59 p.m., Tuesday).
