Press release from Business Wire India
Source: Prakash Industries Ltd
Friday, November 12, 2010 06:30 PM IST (01:00 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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Prakash Industries Limited - Summary of Financial Performance For Q2, FY11
New Delhi, Delhi, India, Friday, November 12, 2010 -- (Business Wire India) -- Highlights - Second Quarter:
. Net Sales Rs. 421 Crores
. EBIDTA Rs. 92 Crores
. PAT Rs. 71 Crores
Prakash Industries Ltd (PIL), a business house with interests in steel & power has reported a stable financial performance for the quarter ended September 2010.
The company reported a 11.5% increase in the Net Sales/Income from operations to Rs. 421 crores from Rs. 377 crores in Q2FY10, despite being a slow quarter as construction activity is low during monsoons. Company's EBIDTA remained stable at Rs. 92 crores against Rs. 91 crores in Q2FY10 on account of effective cost control measures undertaken to combat increase in input cost. PAT has grown by 4.6% to Rs. 71 crores against Rs. 68 crores in Q2FY10.
Production volumes in steel have increased by 9% as compared to the corresponding period in the previous year. Power generation has also improved by more than 7% during the quarter as compared to same quarter in the previous year. The performance of the Wire Rod division and Ferro Alloys division has been satisfactory with strong volumes and higher selling prices.
FUTUREOUTLOOK
The company has taken up plans to set up additional power generation capacity of 625 MW in phases. Implementation for the first phase is as per schedule and is expected to commence production in the current financial year. The balance capacity is proposed to be set up in modular fashion in a phased manner over the next 3 years.
CONTACT DETAILS
Vikas Mahajan, Mutual PR, +91 9953619912, vikas@mutuakpr.com
KEYWORDS
CONSUMER, ECONOMY, MARKETING, BANKING, BUSINESS SERVICES, ENERGY, Financial Analyst, HEAVY INDUSTRIES, STOCK EXCHANGES
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