Steel casting maker Steelcast today posted a 36 percent jump in net profit for the first quarter ended June 30, 2013 at Rs 4 crore against Rs 2.95 crore in the corresponding period last year.
However, the total income for the quarter declined by 8.7 percent at Rs 58.33 crore against Rs 63.90 crore in the year-ago period, a statement issued here said.
Also read: ArcelorMittal scraps Rs 50,000 cr steel project in Odisha
"Our profits have been growing in double digit since last few quarters and this quarter is no exception. The capex of the mining industry has been either reduced or differed due to which order book of mining equipment manufacturers may be lower in FY14 compared to 2012-13.
"This may also result in lower order book from mining equipment manufacturers to our company during the fiscal year," company's Chairman and Managing Director Chetan Tamboli said.
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