Companies

Srikalahasthi Pipes net profit down 9.6%

| | Updated on: May 14, 2017

Srikalahasthi Pipes’ net profit declined 9.6 per cent to ₹Rs 140 crore in the financial year ended March 31, compared with ₹155 crore in the previous year.

The revenue of the company, however, was marginally higher at ₹1,203 crore as against ₹1,178 crore in the year ended March 2016.

During the year under review, the company had undertaken a planned shut-down of over 30 days for relining of its mini-blast furnace, modernisation and expansion of its present capacity of ductile iron pipe plant, besides induction of pulverised coal injection system to reduce cost of production.

“Loss of production due to planned shut-down during the year, and steep increase in the prices of coking coal during the fourth quarter of FY 2016-17 resulted in the marginal decrease in the profitability of the company for the current year,” the company said in a release.

Published on January 11, 2018

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