Usha Martin Q3 net rises 28 pc at Rs 107 crore

Usha Martin on Tuesday posted a 28 per cent rise in its consolidated net profit at Rs 107.51 crore in the December quarter due to reduced expenses.

It had clocked a profit of Rs 84.07 crore in the October-December period of 2022-23, the company said in an exchange filing.

The company's total income fell to Rs 802.98 crore over Rs 838.03 crore a year ago.

Its total expenses were trimmed to Rs 665.09 crore from Rs 731.28 crore in the third quarter of last fiscal.

Usha Martin’s wire rope manufacturing facilities in Ranchi, Hoshiarpur, Dubai, Bangkok and, the UK produce the widest range of wire ropes that find application in various industries across the world.