MAN Industries reports 37% increase in FY11 profit

MAN Industries (India) Limited, one of the leading Large Diameter pipe manufacturing companies has reported a net profit of Rs 91.97 crore for the financial year ended March 31, 2011, as compared to Rs 67.09 crore in the last year, registering a rise of 37% per cent on standalone basis. 

The company’s board during its meeting held today took on record the audited financial results for the year ended March 31, 2011. 

The company has reported Net Sales at Rs.1631crore for the financial year ended March 31, 2011 as compared to Rs.1524 crore of the previous year. Earnings per share (EPS) for the FY 11 stood at Rs 17.26 as compared to Rs 12.59 in the previous year. 

Net sales stood at Rs 440 crore during the quarter ended March 31, 2011 as against Rs 453 crore reported in the same period last fiscal.Net profit for the quarter ended March 31, 2011 is down to Rs 18.62 crore, as against Rs 30.17 crore posted in the same period last fiscal year. Earnings per Share (EPS) for the quarter stood at Rs 3.50 as compared to Rs 5.66 in the corresponding period of last year. 

Commenting on the results RC Mansukhani Chairman of the company said: “We have done exceedingly well so far. Considering our current order book of Rs 1500 Crore, we are optimistic of our future growth. We have been aggressively bidding for new orders in domestic as well as international markets and hopeful of winning the orders in the year ahead.”