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Godawari Power & Ispat Jan-Mar net profit soars to Rs 103 cr

Godawari Power & Ispat Jan-Mar net profit soars to Rs 103 cr

New Delhi, May 2 (PTI) Godawari Power & Ispat Ltd (GPIL) today reported a nearly six-fold jump in its consolidated net profit at Rs 102.79 crore during the March quarter.

The company had posted a Rs 17.20 crore consolidated net profit during the same quarter in the year-ago-period, it said in a BSE filing.

Its total income during the January-March of 2017-18 also grew 17.74 per cent to Rs 746.86 crore from Rs 634.32 crore during the same period in the preceding fiscal.

The expenses of the company were at Rs 634.21 crore, higher from Rs 614.25 crore a year ago.

GPIL is a flagship company of Raipur-based Hira Group of Industries having dominant presence in the long product segment of the Steel industry, mainly into mild steel wire.

It is an end-to-end manufacturer of mild steel wires. In the process, the company manufactures sponge iron, billets, ferro alloys, captive power, wires rods (through subsidiary company), steel wires, oxygen gas, fly ash brick and last but not the least iron ore pellets.

Shares of the company today ended 6.46 per cent lower at Rs 534.90 apiece on the BSE. PTI ABI KKS MKJ MKJ