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VSP poised for maiden profit

Calcutta, Feb. 20: Vizag Steel Plant (VSP) is set to make a maiden profit of Rs 400 crore in the current fiscal.

The buoyancy in the steel industry has helped the company record an all-round improvement in its performance and the turnaround is very much in sight, VSP sources said.

“The company had been written off merely a couple of years ago because of its huge losses. But with the rise in demand and price of steel, it has been able to turn the corner,” the sources said. The company has already achieved a profit of over Rs 290 crore during the first 10 months of the current fiscal.

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