Sujana Metal Products Limited (SMPL), a part of well-diversified Rs 3,000 crore Sujana Group of Companies, has registered an impressive 570.78% rise in net profit at Rs 2065.47 lakh for the quarter ended on June 30, 2008.

The net profit in the corresponding quarter of last fiscal was Rs 307.92 lakh. The company’s board during its meeting held today took on record the un-audited consolidated financial results. The company has reported a rise of 111.99 % at Rs 4861.22 lakh in the net profit for the year ended on June 30, 2008. The company’s net profit in the previous fiscal was Rs 2293.08 %.

The company’s net sales registered an increase of 94.67 % to Rs 42229.26 lakh for the quarter ended on June 30, 2008. The net sales in the corresponding quarter in the previous financial year were Rs 21692.95 %.

For the year ended on June 30, 2008, the company’s net sales rose 99.51 % to Rs 149820.18 lakh. The net sales for the year ended on June 30, 2007 were Rs 75092.06 lakh.

The company’s basic earnings per share rose to Rs 1.62 in the quarter ended June 30, 2008 from Rs 0.60 in the previous quarter of the last fiscal. The basic earnings per share was Rs 6.64 for the year ended on June 30, 2008 as against Rs 4.41 in the last fiscal.

“The company through its organic and inorganic expansion plans has achieved the status as the one of the largest steel company in the secondary steel sector. The results clearly indicated that the company is on the right track and it will improve upon its performance in the quarters to come”, says Mr. V S R Murthy, the group director for Sujana Group of Companies.

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