Usha Martin's Quarter Result Reports Lesser Loss

After the board meeting on 8th August 2016, Usha Martin Limited announced its result for the quarter ended June 30th, 2016. Usha Martin is the leading producer of specialty steel and one of the largest wire rope manufacturers globally. Today, Usha Martin Share Price opened at Rs. 16.95.

Standalone Financials:

• The company reported the lower turnover by 2.2% on Quarter-on-Quarter basis while on Year-on-Year it was down by 5.1%.
• EBIDTA was, however, reported significantly high at Rs. 161 crores as against Rs. 46 crores in the fourth Quarter of the last financial Year.
• On an after-tax basis, Usha Martin reported a lower loss of Rs. 32.6 crores against that of Rs. 172.2 crores in fourth Quarter of last financial year and Rs. 91.6 crores in the Q1FY16.
• The company reported other incomes at Rs. 58.58 crores against that of Rs, 9.73 crores in Q1FY16. It includes Rs. 32.21 crores on account of recognition of accumulated CENVAT credit in steel business and Rs. 11.87 crores on account of profit on the sale of tangible assets in WWR Business.

The financials, however, shows affect on the Usha Martin Share Price which which is currently trading down by 6.19 per cent on NSE.

Production Data:

• Hot metal production was lower by 2.3% on QoQ but on the Year-on-Year basis it was higher by 17.1%.
• Production of Rolled Products was higher on both QoQ and YoY basis by 7.4% and 6.0% respectively.
• WWR production was higher by 3.3% on Quarter-on-Quarter basis while on YoY basis it was up by 2.6%.
• The average price realization of finished goods in steel and WWR business improved.
• Slackness in exports segment in WWR business drags on.

Usha Martin Share Price yesterday closed at Rs. 16.90 and was trading near its closest resistance level of Rs. 17.50. The closest support level of the stock stands at Rs.15.95. The scrip has the 52 weeks high of Rs. 19.85 on 6th August 2015 while its lifetime high value stands at Rs. 153.75 on 4th January 2008. For more details on Usha Martin visit the Usha Martin Share Price history page of Dynamic Levels and for resistance and support levels of the stock check Usha Martin Share Price forecast page.