Uttam Galva Steels Ltd. (UGSL), one of the largest manufacturers and exporters of galvanized steel in the country has recorded an impressive performance for the quarter ended June 30, 2008. EBIDTA for the quarter rose to Rs. 106.10 crores, up by 60% compared to Rs. 66.51 crores in the corresponding quarter of the previous year.

PBT for the quarter ended June 30, 2008 rose to Rs. 32.36 crores up by 26% as compared to Rs. 25.72 crores for the corresponding quarter of the previous year. PAT for the quarter ended June 30, 2008 rose to Rs. 26.59 crores as compared to Rs. 22.75 crores for the corresponding quarter, an increase of 17%. Net Sales for the quarter ended June 30, 2008, touched Rs. 802.97 crores, up by 11% compared to Rs. 721.98 crores in the corresponding quarter of the previous year.

Commenting on the results, Mr.Ankit Miglani, Director (Commercial), Uttam Galva Steels Ltd, said, “The company’s growth and thrust on expansion and consolidation is reflected in our results. While we will continue maintaining our export thrust, it is our constant endeavor to increase our volumes in the domestic market. The thrust is to strengthen our topline and bottomline and enhance profitability”

He further added, “The company is focused on enhancing productivity and achieving cost – effectiveness. We have initiated a 60 MW captive power plant at Khopoli that will help us become self-sufficient for our power requirement”.

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