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IFGL Refractories Q2 PAT up 12.06%
India Blooms News Service
Kolkata, Nov 5 (IBNS) IFGL Refractories Ltd, a leading manufacturer of specialized refractories, on Friday announced its unaudited financial results for three/six months ended on 30th September, 2011.
Compared to financial performance of first quarter ended on 30th June, 2011, consolidated Turnover, Profit before Tax and Profit after Tax are higher by Rs 3,466 lacs (27.67%), Rs. 238 lacs (16.64%) and Rs 129 lacs (12.06%) respectively.
On an annualized basis, aforesaid financial performance on consolidated basis is substantially better than that for previous year ended on 31st March, 2011 inasmuch as Total Turnover, Profit before Tax and Profit after Tax are higher by Rs 10,134 lacs, Rs 2,927 lacs and Rs 2,111 lacs respectively.
Earning per Share, on stand alone basis and consolidated for six months ended 30th September, 2011, is Rs 2.40 and Rs 6.43 respectively, whereas for the previous year 2010-2011 it was Rs 1.99 and Rs 6.63 only.
Manufacturing facilities for Flow Control Refractories, Monolithics etc for steel industry and Filters for the foundry industry are operating satisfactorily, said the company.
The company has plans to introduce several new Bio Ceramic Products including Calcium Phosphate Cement – Injectable / Putty for dental application, in the market.
Pradeep Bajoria, Managing Director, said: “Against the backdrop of a challenging environment and volatility in currency markets, we have delivered one of our strongest quarters with topline growth and excellent operating margins. We will continue to grow, both organically and by way of acquisitions, and maintain focus on execution, operational efficiencies and building organizational capabilities to enhance shareholder value.”
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