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Electrosteel reports net profit of Rs 927.96 crore for April-June quarter

The total income of the company increased to Rs 1,046.15 crore in April-June quarter over Rs 814.94 crore in the year-ago period, it said.

August 29, 2018 / 10:42 PM IST
We are in the last phase of the September quarter earnings season, and the results announced by the BSE 500 companies so far have shown signs of a sharp recovery, as compared to the June quarter, when the economic activity in the country was compromised due to lockdown in various regions. From the BSE 500 list, 216 companies have announced their September quarter results so far. We excluded banking and financial companies.  Along with the index stocks we also analyse each sector quarterly earnings. (Data Source: ACE Equity)

We are in the last phase of the September quarter earnings season, and the results announced by the BSE 500 companies so far have shown signs of a sharp recovery, as compared to the June quarter, when the economic activity in the country was compromised due to lockdown in various regions. From the BSE 500 list, 216 companies have announced their September quarter results so far. We excluded banking and financial companies.  Along with the index stocks we also analyse each sector quarterly earnings. (Data Source: ACE Equity)

 
 
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Electrosteel Steels today reported a net profit of Rs 927.96 crore for the first quarter ended June 30. The company had posted a loss of Rs 242.19 crore in the year-ago period, Electrosteel Steels said in a BSE filing.

The total income of the company increased to Rs 1,046.15 crore in April-June quarter over Rs 814.94 crore in the year-ago period, it said.

Total expenses of the company during April-June quarter declined to Rs 974.46 crore, compared to Rs 1,134.63 crore.

During the quarter, it said, that corporate insolvency resolution process initiated in July last year has been completed and "order to the effect approving the resolution plan submitted by Vedanta Ltd, one of the applicants, has been passed on April 17, 2018."