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Pennar Industries, engaged in value-added steel making for infrastructure sector, has posted a 38.2 per cent increase in its standalone net profit for the quarter ended March 31, 2011 at Rs 19.1 crore.
Its sales during the quarter touched Rs 341.7 crore, up by 31 per cent of the corresponding quarter of the previous fiscal, a company press release said.
The consolidated gross sales for 2010-11 fiscal were Rs 1,372.8 crore, an increase of 54.2 per cent.
“The expansion at Isnapur and Tarapur plants for putting up additional capacities for heavy engineering fabrication work, electro static precipitator electrodes and precision tubes for automobiles is progressing as per schedule,” the company said.
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