New Delhi, May 28: Finished steel production in April registered an 8.7 per cent growth over the same period last year with most of the PSUs exceeding their targets and Sponge Iron India Ltd turning around to make a net profit of Rs 6 crore. Consumption of finished steel items in April also showed a growing market, with demand level reaching 22.50 lakh tonnes, 4.6 per cent higher than the corresponding period last year, an official release said here today.

Sponge Iron India Ltd, after incurring losses till 1999-2000, turned around earning a net profit of Rs 6 crore during 2002-03, it said.
For the first time in a decade, the company also paid the Government a dividend of Rs 1.03 crore in April this year, it added.
The total production of pig iron was 4.7 lakh tonnes as against 4.33 lakh tonnes during April last year, showing a growth of 8.5 per cent, it said adding the consumption of pig iron went up by 12 per cent over the corresponding month last year. Bureau Report