Sichuan Province-based Chinese steelmaker Pangang Group Steel Vanadium & Titanium Co. has announced its financial results for the third quarter of the current year.
Accordingly, in the third quarter Pangang Group Steel Vanadium & Titanium achieved an operating revenue of RMB 3.762 billion ($0.62 billion), up 6.05 percent, while its net profit increased by 7.39 times to RMB 263 million ($43.16 million), both year on year.
Meanwhile, in the January-September period this year Pangang Vanadium & Titanium's operating revenue and net profit amounted to RMB 11.619 billion ($1.91 billion) and RMB 607 million ($99.6 million), down by 1.97 percent and 20.11 percent year on year, respectively.