Argentinian steelmaker Ternium Siderar saw its net profit in Q3 this year increase 23.1 percent, year-on-year, the company reported while releasing its quarterly results. Net profit in Q3 was ARS 1.6 billion ($90.7 million), up from ARS 1.2 billion ($68 million) in the same quarter of the year prior.
Net revenues in Q3 rose to ARS 10.5 billion ($595 million) from ARS 7.03 billion ($397 million) in Q3 2016.
Steel sales volumes in Q3 improved 13.4 percent, year-on-year, to 655,500 mt, the company said. Out of the company’s steel sales volumes, 38,600 mt went to the export market, while 616,900 mt was supplied to the domestic market.
USD = ARS 17.64 (November 6)