Srikalahasti Pipes Ltd has posted a net profit of Rs 41.41 crore for the third quarter ended December 31, 2015 as against a profit of Rs 21.38 crore for the corresponding quarter, almost doubling the profit.

However, the total income from operations for the third quarter was lower at Rs 280 crore as against Rs 308 crore for the corresponding quarter last year.

For the nine months ended December 31, 2015, the company closed with a net profit of Rs 112.68 crore as against Rs 52.55 crore and income was up at Rs 830.55 crore (Rs 782.12 cr).

For the financial year ended March 31, 2015, the company had registered a net profit of Rs 83 crore and a turnover of Rs 1,083.55 crore.

GS Rathi, Director of Srikalahasti Pipes, in a statement said, “The company’s operations in terms of production and sales were in line with the plans. The order position for ductile iron pipes is comfortable to sustain the incremental production. With orders in the pipeline, the company was hopeful of utilising its full capacity during 2016-17.”

Given the focus of the company on water infrastructure and manufacture of ductile iron pipes, and the priority accorded to water sector by both the Central and State governments, it is hopeful of a good future.

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