MAN Industries registers Q4 PAT at Rs 12 cr

Pipe manufacturer MAN Industries (India) Ltd on Wednesday reported a profit after tax (PAT) of Rs 12.33 crore for the quarter ended on March 31, mainly on account of higher income. The company had posted a PAT of Rs 1.59 crore during the year-ago quarter, it said.

Pipe manufacturer MAN Industries (India) Ltd on Wednesday reported a profit after tax (PAT) of Rs 12.33 crore for the quarter ended on March 31, mainly on account of higher income. The company had posted a PAT of Rs 1.59 crore during the year-ago quarter, it said.           During January-March 2019-20, its total income grew exponentially to Rs 670.87 crore from Rs 282.91 crore in the year-ago period.

Total expenses during the period under review was at Rs 661.16 crore as against Rs 281.04 crore in January-March quarter of preceding fiscal. “The quarter saw us continuing to show operational excellence despite all the challenges posed due to disruptions caused by COVID-19 pandemic. All plant operations have resumed successfully. We are undertaking all necessary measures to ensure safety and well-being of our employees by strictly adhering to government guidelines," MAN Industries (India) Chairman R C Mansukhani said.            On the outlook, he said the company is expecting good order inflows from both domestic as well as international markets on the back of the government's focus to revive the economy through infrastructure projects.

Man Industries (India) Ltd -- a member of the Man Group of India -- is a manufacturer and exporter of large diameter carbon steel line pipes for various high pressure transmission applications for gas, crude oil, petrochemical products and potable water. The company has manufacturing facilities for various types of anti-corrosion coating systems.