Orient Refractories profit dips 9% in September 2015 quarter

By Liz Gyekye
Published: Tuesday, 17 November 2015

The company is the latest Indian refractories supplier to report a drop in its fiscal Q2 2016 earnings as India’s domestic steel market struggles to compete with cheap Chinese imports.

Indian monolithics producer Orient Refractories Ltd reported a 9% drop in net profit to Indian rupee (INR) 126.3m ($1.91m*) for the quarter ended 30 September 2015, compared to the same period last year. The decline was primarily due to a global steel production slowdown and cheap Chinese imports of steel....

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