Pipe manufacturer, MAN Industries, on Friday said its net profit increased 35.19 per cent to Rs 25.20 crore for the fourth quarter ended March 31, 2012.

It had posted net profit of Rs 18.64 crore of the corresponding quarter of last year.

Net sales of the company, however, fell 9.34 per cent to Rs 325.98 crore during the current quarter as against Rs 359.62 crore recorded in the same period of previous year.

For the full year 2011—12, the company reported a higher net profit of Rs 102 crore, registering a growth of 11 per cent, compared to Rs 91.96 crore in FY’11.

“The company posted highest ever profit in 2011-12 in its 25 years history. We are expecting further growth in the current financial year. Our current order book stands at Rs 1,200 crore which is to be executed within the next 7—8 months,” said Mr R C Mansukhani, Chairman, MAN Industries.

During the year, Japan’s Kobe Steel picked up about 3.2 per cent stake in the company for about Rs 30 crore as part of its strategic partnership. The move was aimed at developing products jointly and meets the demand of the global steel pipe-market.

The company has recommended a dividend of 40 per cent or Rs 2 per share to the shareholders for 2011—12.

Shares of the company were trading at Rs 99.00 apiece on the BSE towards close, up 1.59 per cent from yesterday’s close.

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