MAN Industries Posts net profit of Rs.25.67 crores in Q3

FOR IMMEDIATE RELEASE
Mumbai, Maharashtra, India, Republic of (Free-Press-Release.com) February 15, 2011 -- MAN Industries Posts net profit of Rs.25.67 crores in Q3

Company posts net profit of Rs.73.35 crores in nine months as compared to last year’s profit of Rs. 67.09 crores

Mumbai, February 14, 2011: MAN Industries (India) Limited, one of the leading pipe manufacturing companies has reported a net profit at Rs.25.67 crore during the quarter ended December 31, 2010, as compared to Rs. 30.92 crore in the corresponding period a year.

The company has posted higher net sales of Rs 1191 crore in the nine months ended December 31, 2010 as against Rs 1071 crore in the same period last year. The company has registered substantially higher net profit in the nine months period ended December 31, 2010 at Rs 73.35 crore, as compared to Rs 67.09 crore in the whole of the previous year.

Company is well on its way to post highest ever profit in its history.

The company’s board during its meeting held today took on record the un-audited financial results for the quarter ended December 31, 2010.

The company has reported Net Sales at Rs.439.86 crore for the quarter ended December 31, 2010 in comparison to the corresponding Net Sales of Rs. 439.31 crore for the quarter ended December 31, 2010.

Commenting on the results Mr. R. C. Mansukhani Chairman of the company said “We have done exceedingly well in the first nine months of the current financial year by registering record ever profit. Considering the opportunities and the current economic condition, we are sure of registering an impressive financial performance for the whole of this year at the end of current fiscal”


Highlights for the quarter ended December 31, 2010 vs December 31, 2009.

(Rs. in crore)
Sr. No Particular Q3 December 31, 2010 Q3 December 31, 2009 9 month
ending 31/12/10 9 month
ending 31/12/09
1 Net Sales 439.86 439.31 1191.07 1071.48
2 PAT 25.67 30.92 73.35 36.93
3 EPS (Rs.) 4.69 5.80 13.39 6.93


ABOUT MAN GROUP

MAN Industries (India) Ltd., an ISO 9001 / 14001 / 18001 accredited Company, is a leading manufacturer of SAW Pipes (Line Pipes) and Coating Systems for high-pressure Oil & Gas applications with a potential production capacity of approximately one million MT of SAW pipes per annum.
The Company is a part of the well diversified MAN Group, growing under the able leadership of Shri. R. C. Mansukhani and Mr J C Mansukhani. Starting as an Aluminium Extruder in 1988, MAN Industries has now become a large player in SAW Pipes. It is also a significant sized player in Spirally Welded Pipes and Coating Systems. MAN Industries operations are spread across globally with offices in U.K. and U.A.E. besides India.

The shares of the Company are listed with Bombay Stock Exchange and National Stock Exchange and the GDRs of the Company are listed with Dubai International Financial Exchange (DIFX).


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