Date:01/11/2007 URL: http://www.thehindubusinessline.com/2007/11/01/stories/2007110150770300.htm

Back Mukand Q2 net down 31.6%

Our Bureau

Mumbai, Oct. 31 Speciality steel-maker Mukand Ltd has posted a net profit Rs 14.13 crore, down 31.64 per cent, for the quarter ended September 30, 2007 against Rs 20.67 crore logged for the corresponding quarter a year ago. The pressure on margins was due to a steep rise in the cost of inputs, especially metallurgical coke, the company said, adding that to reduce its dependence on coke from the market, it had signed an MoU to purchase facilities in Maharashtra, with a capacity to produce 120,000 mt coke annually.

Total turnover registered a marginal improvement at Rs 548.61 crore (Rs 534.28 crore).