Leading wire rope and specialty steel manufacturer Usha Martin Ltd reported a 58.75% dip in its consolidated net profit to INR 14.91 crore for the quarter ended March 31, 2012, from INR 36.15 crore in the same period last year.

During the fourth quarter, the Kolkata based company registered a 10.74 percent growth in its net sales to INR 954.41 crore from INR 861.82crore in the corresponding period a year ago, while its total expenses increased to INR 937.98 crore during the period under review from INR 761.27 crore for the same period last fiscal, up by 23.21 percent.

The company in a release said that its operational performance suffered due to difficult business conditions, higher input costs and slow down in key market segments.

The company, which has plants in Britain, Thailand and Dubai, also said higher volatility in foreign exchange and depreciating rupee distorted normalcy of operational performance.

Source - IANS

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