Indian integrated steel and manganese ferroalloy producer Sarda Energy and Minerals Limited (SEML) has reported a net profit of INR 1.7 billion ($20.75 million) for the first quarter (April-June) of the fiscal year 2023-24, a marginal rise of 0.61 percent over the corresponding quarter of the previous fiscal year, according to a regulatory filing of the company on Monday, July 31.
The company reported total sales revenue of INR 11.35 billion ($138 million), a decline of 7.11 percent year on year.
SEML is a producer of sponge iron, wire rod, billet, ferroalloys and pellets from its captive iron ore mine and plant in the central Indian state of Chhattisgarh.