Steel castings manufacturer Steelcast Ltd reported an 18.79 per cent increase in net profit and 25.83 per cent in sales in the third quarter of 2012-13, ended December 31, as compared to the corresponding quarter last fiscal.
While net sales were Rs 81.35 crore (Rs 64.65 crore), net profit stood at Rs 5.88 crore (Rs 4.95 crore), Chaetan Tamboli, Chairman and Managing Director, said in a statement here.
Exports, largely to the US and Germany, constituted nearly 58.39 per cent of sales in the third quarter of 2012-13.
“From recent customer feedback, there is likely to be some drop in offtake in steel castings during Q4 of 2012-13 compared to the preceding quarter. This is mainly due to pile up in inventory and finished goods at their end, as well as at their dealers’ end.
However, normal offtake is expected to be restored from Q1 of 2013-14, he said.