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Water pipes manufacturer Srikalahasthi Pipes Ltd (formerly, Lanco Industries Ltd) has reported an 82-per-cent increase in its net profit for the quarter ended March 31 to ₹30.42 crore.
On the back of this performance, the company’s board of directors has recommended a dividend of ₹3 a share.
For the full year 2014-15, the net profit rose 114 per cent over the previous year – to ₹82.98 crore from ₹38.70 crore.
Srikalahasthi’s Director Gowri Shankar Rathi said that the company has just completed capacity expansion and the full benefit of that could be expected to accrue to the company in the current year.
Further, the company is also raising its captive power capacity by 6 MW, which will also help bring down power costs – making water pipes of ductile iron is a power consuming process.
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