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The Sponge Iron India Limited(SIIL) has recorded higher production and sales during the first half of the current financial year. The Chairman-Cum-Managing Director of the Company in a recent meeting with Senior Officials of the Ministry of Steel claimed that the production and sales during the period exceeded ‘very good’ targets under the MOU. The financial performance during the period also exceeded the ‘excellent’ line due to buoyant market conditions. Earlier, the Company had made a record net profit of Rs.18.88 crores in the year 2003-04. Better efficiency of operations, financial restructuring approved by the Government and improved market conditions were the main factors behind achievements, the CMD claimed.
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