Masteel posts net profit of RMB 6.527 billion for Jan-Sept, up 319.13%

Wednesday, 27 October 2021 12:25:42 (GMT+3)   |   Shanghai

Anhui Province-based Chinese steel producer Ma’anshan Iron and Steel (Masteel) has issued its financial report for the first nine months of the current year, announcing that Masteel Group realized an operating revenue of RMB 85.82 billion ($13.4 billion) in the given period, up 47.4 percent year on year, while posting a net profit attributable to the shareholders of the listed company of RMB 6.527 billion ($1.02 billion), up 319.13 percent year on year.

 In the third quarter alone, the company registered an operating revenue of RMB 28.952 billion ($4.53 billion), up 39.31 percent year on year, and a net profit of RMB 1.883 billion ($0.3 billion), up 152.79 percent year on year.

The company said the rising trend in steel prices contributed to the increases in its net profit in the given period.

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