BWI: Quarterly Financial Performance- Prakash Industries Limited

Press release from Business Wire India
Source: Prakash Industries Ltd
Saturday, July 18, 2009 06:56 PM IST (01:26 PM GMT)
Editors: General: Consumer interest, Economy; Business: Advertising, PR & marketing, Banking & financial services, Business services, Energy companies, Financial Analyst, Heavy industries, Stock exchanges
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Quarterly Financial Performance- Prakash Industries Limited
Profit After Tax at Rs.59 Crores; Net Sales at Rs.365 Crores, To Raise $100 Million

New Delhi, Delhi, India, Saturday, July 18, 2009 -- (Business Wire India) -- Prakash Industries Ltd (PIL), with interests in steel & power has reported a strong financial performance for the quarter ended June 2009.

The company has reported Net Sales/Income from operations at Rs.364.79 crores in the present quarter and PAT ( Profit After Tax) of Rs. 58.59 Crores.

Rs.in crores

Particulars -- Quarter Ended March 2009 -- Quarter Ended June -- 2009 -- Quarter Ended June 2008

Net Sales -- 321.24 -- 364.79 -- 392.07

EBIDTA -- 79.14 -- 80.04 -- 88.08

PAT -- 51.86 -- 58.59 -- 66.88

EPS -- 4.49 -- 5.07 -- 5.79

Company has reported a strong performance in the June 2009 quarter when compared sequentially with the March 2009 quarter.

The PAT (Profit after Tax) has gone up by 13% from Rs.51.86 crores in the March 2009 quarter to Rs.58.59 crores for the June 2009 quarter. The Net Sales/Income from operations showed an increase 14% at Rs.364.79 crores in the present quarter from Rs.321.24 crores reported in preceding quarter of March 2009.

Prakash Industries is implementing a 625 MW thermal power plant at Champa, Chhattisgarh. The proposed captive power plant will enable Prakash to secure its own long-term power needs while the surplus power will be sold through open access .The plant would be operational gradually during next three to four years. Company is already operating one coal mine and its 2nd coal mine is expected to start production by March 2010.

The company plans to raise upto $100 million to part finance 625 MW power plant at Champa in Chhattisgarh.

The company has closed the year 2008-09 with a turnover of Rs.1710 Crores, PAT of Rs.204 Crores and an EBIDTA of Rs.304 Crores.

About Prakash Industries:

Prakash Industries is presently operating a 100 MW captive power plant using Waste hot gases from the sponge iron kilns and coal based boilers. Company is pioneer in the country to commission Waste Heat Recovery Boiler (WHRB) with DRI kilns.

The company is also into manufacturing of high value added products like Wire Rod ,Structurals & TMT. Company has planned to double its steel making capacity in the coming years. To become one of the lowest cost producers in the world, it has integrated the operations with captive coal & iron ore mines.

To view the press release with tables, please click on the link below.

Press Release with Tables
For picture(s)/data to illustrate this release click below:

http://www.BusinessWireIndia.com/attachments/PIL Results- Q1-09-10.doc
PIL Results- Q1-09-10.doc


CONTACT DETAILS
Vikas Mahajan, Mutual PR, +919953619912, vikas@mutualpr.com

KEYWORDS
CONSUMER, ECONOMY, MARKETING, BANKING, BUSINESS SERVICES, ENERGY, Financial Analyst, HEAVY INDUSTRIES, STOCK EXCHANGES

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