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Steel casting manufacturer Steelcast Ltd on Tuesday reported a 40 per cent increase in income and 20 per cent in profit after tax (PAT) in the first quarter ended June 30 as compared to the corresponding period in the last financial year. While its income was Rs 63.90 crore (Rs 45.53 crore), PAT stood at Rs 2.95 crore (Rs 2.45 crore), according to a company release here.
Mr Chetan Tamboli, Chairman and Managing Director, said the shareholders have approved sub-division of the Rs 10 a share to Rs 5 a share, the 1:1 bonus share issue and a final dividend of 40 per cent (Rs 4 a share). The company would also begin the process to get its shares listed on the National Stock Exchange during this fiscal. The company’s exports have surged to Rs 33.50 crore in the first quarter of FY 2013, he said. On Tuesday, Steelcast’s share price on the BSE closed 8.26 per cent down at Rs 200.
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