Mukand, part of Bajaj Group, has recorded a net profit of INR 15 crore in the quarter ended December 2009 as against a loss of INR 53 crore logged in the same period last year. Sales increased by 21% YoY to INR 471 crore from INR 388 crore.

The steel division revenue increased by 13% YoY to INR 427 crore from INR 377 crore. The industrial machinery division continued its growth trajectory, recording an increase in revenue by 44% YoY to INR 75 crore from INR 52 crore. The division has an order book of INR 507 crore.

The company sees significant demand for specialty steel products, given the buoyancy in the automobile sector.

Mukand said in a press release that "With renewed investment in the power, ports and steel sectors, the industrial machinery and projects division too are expecting higher demand."