BSRM Steels to launch new mill on 1 January
The company's net profit jumped over 86% to Tk85 crore in the July-September quarter
Leading steel manufacturer BSRM Steels Limited has decided to launch its new mill's commercial operation on 1 January next year.
According to the company's statement, the new rolling mill, located in Mirsarai of Chattogram, has an annual production capacity of 6 lakh tonnes. This facility is expected to increase the company's market share in the local steel market from 23% to 34% and meet the growing demand for steel products.
Meanwhile, the company also reported that its net profit jumped over 86% to Tk85 crore in the July-September quarter of this fiscal year compared to the previous year in the same quarter.
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Its revenue also grew by 3% to Tk1,524 crore during the quarter.
The earnings per share of the company stood at Tk2.26 at the end of the September quarter.
