Visa Steel reported a 33% rise in net profit to INR 10.14 crore in the Q1 ended June 30, 2011, led by higher production volumes and better price realization.

During Q1 of FY 2011-12, Visa saw its revenues grow 62.3% to 367.20 crore and an increase in EBIDTA by 10.6% to 44.85 crore. company announced its Q1 unaudited financial results for FY 2011-12 following a board meeting at Bhubaneswar on Tuesday.

Mr Vishal Agarwal MD of Visa Steel commenting on the company's first quarter results said that "Our sales revenue saw an increase in the first quarter due to higher price realization and production volumes. However, operating margins have been lower due to higher cost of raw material such as coking coal, iron ore and chrome ore.”

(Sourced from ET)