Ispat Inland reports Q1 financial results

Ispat Inland reports Q1 financial results

Ispat Inland has recently announced financial results of first quarter, ended on March 31, 2004. Accordingly, in the first quarter of 2004, the company achieved net income of $41.7 million against $14.8 million recorded in the first quarter of 2003 and against the loss of $21.4 million recorded in the fourth quarter of 2003. The first quarter net sales reached $665.6 million with an increase of 20% against net sales of $553.9 million recorded in the corresponding period of 2003. Shipments in the first quarter of 2004 are recorded as 1'432'700 tons, up by 13% against shipments of same period of previous year. Operating profit of the company is recorded as $80.6 million against $44.4 million recorded in the first quarter of 2003.