Comments
Monnet Ispat & Energy Ltd reported a flattish growth in net profits and revenues for the June quarter over corresponding last year.
Mr Sandeep Jajodia, Executive Vice-Chairman and Managing Director, attributed the flattish growth to the partial shutdown of its both steel and power plants for process improvement.
“Despite the shut down, which affected the production numbers, the company was able to maintain the sales volume based on available inventories. As prices remained firm during the quarter, the overall revenues and profitability was not impacted,” Mr Jajodia said in a statement.
Monnet is implementing a 1.5 million tonnes per annum integrated steel plant, which is on schedule.
The additional 80 MW power plant, which is part of the project, is ready for commercial operation from this month, the company said.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.