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Pipe manufacturer Man Industries has reported a 16 per cent drop in net profit at Rs 26 crore for the quarter-ended December 31, 2010, compared with Rs 31 crore logged in the same period last year. Net sales were flat at Rs 439.86 crore (Rs 439.31 crore). Mr R.C. Mansukhani, Chairman, said, “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.” The company's scrip on BSE ended 2 per cent lower at Rs 64.55 on Tuesday.
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