Mahamaya Steel, the Raipur-based steel producer disclosed 44.22 per cent rise in net profit for the June 30, 2016 quarter end, improvement in margins owing to a sharp recovery in prices. The production of steel structures, has noted net profit after of Rs 0.88 crore for the quarter ended on June 2016 versus Rs. 0.61 crore in the same quarter last year.
Higher capacity utilization, better product realization with narrower raw material prices benefitted the company to post excellent performance for June 2016 quarter. The company talked of a loss of Rs 5.05 crore in the quarter ended on March 2016 following severe condition in the market then.
In the meantime, net sales of the company for the quarter ended June 2016 marked Rs 67.42 crore against Rs 81.18 in the same quarter ended on June 2015. During the quarter, the company manufactured 25,939 tonnes of blooms and billets. Besides, productions of rolling mill are observed at 23,348 tonnes. During the quarter under preview, the average market price of structures was seen at Rs 26,311 per tonne as compared to Rs 25,800 per tonne in March 2016 quarter. Also, average market price of billets and blooms was Rs 21,845 per tonne against Rs 21,875 per tonne during March 2016. Throughout the quarter ended on June 30, 2016, the company has booked new orders worth Rs 70.60 crore.
As of now, Mahamaya Steel share price is trading at Rs. 360.00 up by 5%. The stock opened at Rs. 337.00 and touched the day’s high and low at Rs. 260.00 and Rs. 335.00.
Mahamaya Steel share price touched its 52 week high at Rs. 363.75 on 19th August ’16 while the 52 week of the stock is seen at Rs. 128.00 on 1st July ’16. The company has a market cap amounting to Rs. 462.82 (Cr having a book value of Rs. 59.90
In order to seek more information on the stock, refer to Mahamaya Steel share price history.
In order to seek more information on the stock, refer to Mahamaya Steel share price history.
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