Electrosteel Castings Ltd has reported a net profit of Rs 33.09 crore in the quarter to December 31, 2012 against a net loss of Rs 10.78 crore in the comparable quarter in the previous fiscal. In the quarter to September 30, 2012, ductile iron pipe maker had posted a net profit of Rs 37.04 crore.
M K Jalan, Director of the company, told Business Line that margins were still under pressure. “Through selective order booking we have maintained the revenue levels”, he said.
Jalan said current order booking was worth six months’ production. Around 60 per cent of the company’s revenues come from exports, mainly to Europe and the Gulf region. Electrosteel has presence in UK, France, Spain, Italy, Germany, Jebel Ali, Qatar, Morocco and South Africa.