All Rights Reserved Finance News 2020.
Man Industries Q1 results: Net profit grows over 4-fold to Rs 17 cr
NEW DELHI: Tube manufacturer Man Industries (India) Ltd on Wednesday submitted an over four-fold begin consolidated net profit to Rs 17.11 crore for the June quarter, assisted by increased income.
The company had posted the net profit of Rs 3.63 crore in the same period a year ago, the idea said in a BSE completing.
Total income increased to Rs 410.10 crore during the quarter under evaluation, from from Rs 244.87 crore earlier.
Total expenses also rose to Rs 386.23 crore from Rs 240.64 crore in April-June length of the preceding fiscal.
In a separate statement, the company’s Chief R C Mansukhani stated, “All our plant surgical procedures have resumed successfully and now we are back on track when it comes to order execution.”
“We are seeing good traction through domestic as well as international areas on the back connected with revival of demand from key geographies and domestic sector previously doing well with ample chances from several upcoming oil and coal and water projects including Nal se Jal in addition to river linking,” he / she added.
Man Industries (India) Ltd — a member in the Man Group of India — is a manufacturer and céder of large diameter carbon stainlesss steel line pipes for several high pressure transmission applications to get gas, crude oil, petrochemical companies potable water.