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Hangzhou Iron & Steel Returns to Profit in Q1

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-- Hangzhou Iron & Steel (SHA:600126) posted an attributable profit of 9.6 million yuan in the first quarter, rebounding from an attributable loss of 35 million yuan in the year-ago period, according to a Saturday filing with the Shanghai bourse.

The steel products maker logged earnings per share of 0.003 yuan, compared with a loss per share of 0.01 yuan in the prior-year period.

Total operating revenue declined 47% year over year to 7.69 billion yuan from 14.4 billion yuan.

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