Ratnamani Metals rises after order win

Ratnamani Metals & Tubes gained 2.74% to Rs 2,260.65 after the company bagged a new order worth Rs 98 crore (excluding GST) from domestic Oil & Gas Sector.

The scope of the order is to supply carbon steel pipes for the domestic Oil & Gas sector. The order is to be executed in 5 to 12 months. The announcement was made after market hours on Thursday, 7 October.

Ratnamani Metals & Tubes is engaged in providing total piping solutions to a diverse range of industries.

On a consolidated basis, the company posted a 1.4% rise in net profit to Rs 50.4 on a 9% decline in net sales to Rs 526 crore in Q1 FY22 over Q1 FY21.

 

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