SEIL posts Rs 8.65 crore net profit in Q1

Steel Exchange India Limited (SEIL), engaged in manufacturing and sale of iron and steel products, trading of related products as well as generation and sale of power, declared its financial results for the first quarter ended June 30, 2015 on Firday. The company reported its Net Profit at Rs 8.65 crore for Q1FY16, as compared to Rs 9.05 crore in the corresponding quarter of last fiscal year.

Total Income for the quarter ended June 30, 2015 stood at Rs 317.67 crore, as compared to Rs 296.76 crore in the same period in 2014. There is a marginal increase in revenue. SEIL's Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1FY16 stood at Rs 45.16, up 47%.

Commenting on the financial performance of the company Mr. B. Satish Kumar, the Chairman and Managing Director, Steel Exchange India Limited, said, "The quarterly results are satisfactory given the prevailing market conditions. We expect that the market conditions and other factors would improve for the steel industry and the company will do better in the coming quarters."

Earnings per share (EPS) for the quarter ended Q1FY16 stood at Rs 1.49 as compared with Rs 1.74 for the quarter ended June 30, 2014, and company's earnings before the deduction of interest, taxes and amortisation expenses stood at  Rs 45.16 Crore.