Mexican steelmaker Industrias CH (ICH) reverted a MXN 753 million ($36.1 million) net loss in Q3 2015 and posted a MXN 1.6 billion ($76.6 million) net profit in Q3 this year, according to a company’s filing at the country’s stock exchange, Bolsa Mexicana de Valores (BMV).
The local steelmaker saw its net revenues rise 4 percent in Q3, year-on-year, to MXN 7.47 billion. Net revenues within the domestic market reached MXN 4.68 billion out of the company’s total revenues.
Sales volumes in Q3 declined 3 percent, year-on-year, to 601,000 mt. Cost of sales in Q3 declined 3 percent, year-on-year, to MXN 6.08 billion. ICH’s EBITDA in Q3 increased 55 percent, year-on-year, to MXN 1.47 billion.
As for the nine-month period from January to September, ICH posted a MXN 4.72 billion net profit, up from the MXN 300 million net profit posted in the same period of the year prior.