Usha Martin Limited Announces Consolidated and Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014
January 30, 2015 at 09:05 pm IST
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Usha Martin Limited announced consolidated and standalone earnings results for the third quarter and nine months ended December 31, 2014. For the quarter, on consolidated basis, the company reported net sales of INR 10,767.7 million compared to INR 9,853.8 million for the same period a year ago. Profit from operations before other income, finance costs and exceptional items was INR 786.5 million compared to INR 1,071.7 million for the same period a year ago. Loss from ordinary activities before tax was INR 590.7 million compared to profit of INR 260.0 million for the same period a year ago. Loss for the period was INR 355.4 million or INR 1.18 per basic and diluted share compared to profit of INR 167.4 million or INR 0.51 per basic and diluted share for the same period a year ago.
For the nine months, on consolidated basis, the company reported net sales of INR 33,900.4 million compared to INR 28,212.7 million for the same period a year ago. Profit from operations before other income, finance costs and exceptional items was INR 2,686.2 million compared to INR 2,868.5 million for the same period a year ago. Loss from ordinary activities before tax was INR 1,801.6 million compared to profit of INR 494.3 million for the same period a year ago. Loss for the period was INR 1,215.8 million or INR 4.02 per basic and diluted share compared to profit of INR 226.5 million or INR 0.67 per basic and diluted share for the same period a year ago.
For the quarter, on standalone basis, the company reported net sales of INR 8,883.9 million compared to INR 8,279.1 million for the same period a year ago. Profit from operations before other income, finance costs and exceptional items was INR 610.5 million compared to INR 977.5 million for the same period a year ago. Loss from ordinary activities before tax was INR 718.5 million compared to profit of INR 14.7 million for the same period a year ago. Loss for the period was INR 435.9 million or INR 1.43 per basic and diluted share compared to profit of INR 9.9 million or INR 0.03 per basic and diluted share for the same period a year ago.
For the nine months, on standalone basis, the company reported net sales of INR 27,640.3 million compared to INR 22,774.5 million for the same period a year ago. Loss from ordinary activities before tax was INR 2,258.6 million compared to profit of INR 85.1 million for the same period a year ago. Profit from operations before other income, finance costs and exceptional items was INR 2,059.3 million compared to INR 2,544.8 million for the same period a year ago. Loss for the period was INR 1,526.2 million or INR 5.01 per basic and diluted share compared to profit of INR 48.9 million or INR 0.16 per basic and diluted share for the same period a year ago.
Usha Martin Limited is an India-based specialty steel wire rope solutions provider. The Company is also engaged in the manufacturing of wires, low relaxation prestressed concrete steel strand (LRPC), bespoke end-fitments, accessories and related services. The Company's segments include Wire and Wire ropes, and Others. The Wire and Wire ropes segment is engaged in the manufacturing and sale of steel wires, strands, wire ropes, cord, related accessories, wire drawing and allied machine, among others. The Others segment is engaged in the manufacturing and sale of jelly filled and optical fiber telecommunication cables. It provides various wire ropes, such as crane rope, mining rope, elevator rope, oil and offshore rope, fishing rope, general engineering rope, aerial transportation rope, structural rope, and conveyor rope. The Company's LRPC strands products include unbonded polymer coated LRPC strand, bonded polymer coated LRPC strand and compacted LRPC strand.
USHA MARTIN LIMITED 
