06
Aug
01:00
Kalyani Steels stresses cost-cutting as June quarter profit surges 89%
India's Kalyani Steels (KSL) reported a -3% on-year decline in income to INR 37,384.61 lakhs ($58.6 million) in the quarter through June. Net profit however surged 89% to INR 2,889.21 lakhs, Kallanish learns from the firm.
Kalyani is focusing on cost reduction going forward in order to remain competitive and maintain margins in an environment of depressed steel prices and slow pick-up in demand. A “substantial” increase in China-ori…
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Anonymous
Very good overview of the weekly steel market.
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