Orient Refractories profit dips 9% in September 2015 quarter
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