Visa Steel has posted net profit of INR 20.99 crore for January to March 2008 quarter up by 3129% YoY as against INR 6,500,000 in January to March 2007 quarter. Revenue for the quarter rose by 78% YoY to INR 259.68 crore as against INR 145.98 crore.

Visa Steel has also recorded INR 682.81 crore revenue for the financial year ended March 31st 2008 up by 26.9% YoY as against INR 537.93 crore in the year ended March 31st 2007. Net profit for the year increased by 110% YoY to INR 43.15 crore from INR 20.52 crore.

Mr Vishal Agarwal MD of Visa Steel said that " The growth in revenues and profit for 2007-08 fiscal have been driven by better realization in products like pig iron, coke and ferrochrome combined with higher volume growth in the coke and ferrochrome operations."