By IANS
Ahmedabad : Powered by robust growths in its core businesses, Electrotherm India Ltd notched up a near doubling of its net sales income and almost a 60 percent increase in profit after tax (PAT) for the quarter ended Sep 30.
According to un-audited financial results of the company released here Monday, the company’s net sales income for July-Sep stood at Rs.2.68 billion compared to Rs.1.39 billion in the same period in 2006.
For the first half of current fiscal, net income from sales etched at Rs.5.14 billion, which was a quantum jump over Rs.2.3 billion in the same period last year. A similar jump was notched up in PAT, which increased to Rs.250 million from Rs.14o million.
The company’s special steel division and engineering projects division contributed handsomely to sales growth.
The International Finance Corp (IFC) has sanctioned a loan of $15 million as external commercial borrowing (ECB). Of this, the company has received $10 million during the quarter. This amount has been utilised for capital expenditure.