Team News Riveting
Raipur, May 24
Sarda Energy and Minerals Limited (SEML) on Monday reported a net profit of Rs 139 crore in the quarter ended March 2021 (Q4) powered by higher volumes and cost efficiencies.
The company had posted a net loss of Rs 32 crore in January-March period a year ago, SEML said in a regulatory filing.
The revenue from the operations rose 93 per cent to Rs 741 crore from Rs 384 crore in the year-ago quarter.
For the fiscal 2020-21, SEML net profit climbed to a whopping 193 per cent to Rs 376 crore. It was Rs 128 crore in the previous year. In the financial year 2020-21, the revenue from operations was Rs 2342 crore, up by 18 per cent as compared to Rs 1983 crore in fiscal 2019-20.
The Board has recommended a dividend of INR7.5 per share (75 per cent of face value) for the financial year 2020-21.
Sarda Energy and Minerals Limited (SEML), incorporated in 1973, is an integrated steel producer of long steel products having a steel manufacturing facility at Raipur, Chhattisgarh. It is also a leading producer and exporter of ferro alloys with a manufacturing facility at Raipur and Vizag. It also has interests in the hydro power sector through SPVs.
