Srikalahasti Pipes Q4 net up 55% at Rs 46 cr

Company's total income from operations grew 4.5% to Rs 315 cr in the quarter under review

Srikalahasti Pipes Limited has reported a 55.72 percent jump in net profit at Rs 46.12 crore for the quarter ended March, 2016 as compared with Rs 29.62 crore in the corresponding quarter last year.

The company's total income from operations grew 4.5 percent to Rs 315.05 crore in the quarter under review from Rs 301.43 crore in the year ago period.

For the full year ending March, 2016, the company's net profit stood at Rs 158.80 crore, an increase of 93.27% over Rs 82.17 crore in the previous year. Total income for the year was Rs 1,145.65 crore as compared to Rs 1083.55 crore in the previous year.

Srikalahasti Pipes whole time director G S Rathi said the capacity expansion of the plant, proposed with an investment of Rs 100 crore, has been going on at a faster pace and the same was expected to complete by September, 2016. With this the total annual capacity of DI Pipe plant will increase to 3 lakh tonnes per annum from the present 2.25 lakh tonnes, according to him.

The company has recommended a dividend of Rs 5 per equity share of Rs 10 face value. The board has also approved a capital expenditure of Rs 55 crore to put up two units of Ferro Alloys of 9 MVA capacity each in the same complex located in Chittoor district of Andhra Pradesh.