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Pipe maker Man Industries has posted eight per cent rise in net profit at Rs 26 crore (Rs 24 crore) for Q1 FY13. Net sales were down at Rs 326 crore (Rs 466 crore). Mr R.C. Mansukhani, Chairman, said, “The results are in line with our expectations, in spite of the fact that the company has booked MTM losses of Rs 17.79 crore which would hopefully be recouped in the coming quarters. The business outlook remains stable despite global challenges.” On Tuesday, the company scrip closed 2.45 per cent down at Rs 99.60 on the BSE.
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