Gravita Reports 146% increase in its Q3 Net Profits

Lead and Lead Alloys ManufacturerGravita India Limited, Jaipur, has announced its Financial results for the quarter ended December 31, 2012. Consolidated Net total income for the quarter was Rs. 11307.01 Lacs, showing an increase of 59% over the total income for the corresponding quarter of previous year.

The EBITDA of the Company increased by 189% in Q3 FY 2012-13 compared to the corresponding quarter of previous year. Over the last 10 months, the Share of the Company has gained 21% outpacing the Sensex’s 14.5% gain. In addition to above the Board of Directors of the Company have declared 2nd Interim Dividend for the Financial Year 2012-13 @15% on total issued capital of the Company.

The Company has recently expanded its Plant operations at Jammu and Senegal by implementing upgraded Plant & Machinery. The Company is in the process of establishing a new plant in Gujarat. The Company’s Jaipur Plant is also under expansion of production capacity. See Results on Gravita India Ltd.

Company Profile:

Gravita India Ltd. is Leading Indian Company having state-of-the-art Lead Processing unit at Jaipur (Rajasthan), INDIA. We carry out smelting of Lead Ore / Lead Concentrate / Lead Battery Scrap to produce primary & secondary Lead Metal, which is further transformed into Pure Lead, Specific Lead Alloy, Lead Oxides (Lead Sub-Oxide, Red Lead, and Litharge) and Lead Products like Lead Sheets, Lead Pipes etc. with proven technology and processes.

Scrap lead battery prices inch up on LME rise

Scrap lead battery free-market prices have moved up a penny on the back of higher prices on the London Metal Exchange, although some buyers say they are waiting to see if the rise is a temporary symptom of post-fiscal cliff optimism.

Junk batteries moved up to a range of 37 to 39 cents per pound this week from 36 to 38 cents previously, while all other lead scrap grades were unchanged. One buyer said that his company had received quotes as high as 41 cents per pound but “didn’t get a solid quote.” A second buyer noted that quotes for delivery into the South were running into the 40-cent range.