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Electrosteel Castings Ltd has reported a net profit of Rs 10.29 crore in the second quarter ended September 30, 2015, against a net profit of Rs 12.78 crore in the corresponding quarter last year. The ductile iron pipe-maker's total income from operations also declined to Rs 448.12 crore (Rs 535.15 crore).
The company in notes to the profit and loss account said it was awaiting a Delhi High Court order on recovery of compensation for investment in the Parbatpur coal mine, which was handed over to Bharat Coking Coal Ltd after the Supreme Court cancelled its earlier allocation.
Its investments in another coal block and its associate company Electrosteel Steel Ltd have been considered as recoverable and carried in the books at cost.
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