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Our Bureau

Mumbai, Jan.18

PSL Ltd, engaged in the pipe manufacturing and coating business, posted a net profit of Rs 20. 80 crore for the quarter ended December 30, 2006, up from Rs 13.46 crore in the same quarter of the last fiscal. The company's net sales are up by 22 per cent at Rs 498.84 crore as against Rs 408.11 crore in the same quarter last year.

Profit before tax rose to 22 per cent, at Rs 28.85 crore for the quarter under review, as compared to Rs 15.98 crore in the corresponding previous quarter. The Earnings Per Share for the quarter is Rs 6.48. Total income for the quarter increased to Rs 504.86 crore from Rs 412.87 crore. The company has completed orders obtained from GAIL for the Dahej-Uran and Dabhol-Panvel pipeline project, said Mr Ashok Punj, Managing Director, PSL Ltd.

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