Man Industries Q3 net profit down at Rs 25.67 crore

Mumbai, Feb 14 (PTI) Leading pipe-manufacturer ManIndustries (India) Ltd today said it has posted a lower netprofit at Rs 25.67 crore in the third quarter ended December31 from Rs 30.92 crore in the year-ago period.

Net sales in the reporting quarter was nearly the sameas in the year-ago period at Rs 439.86-crore, a companyrelease said here.

In Q3 FY 10, the firm had posted net sales of Rs439.31 crore.

For the nine-month period ended December 31, theompany''s net sales were up at Rs 1,191 crore as against Rs1,071 crore in the year-ago period. Net profit was also higherat Rs 73.35 crore as compared to Rs 67.09 crore in thecorresponding period of the previous year.

"We have done well in the first nine months of thecurrent financial year by posting record profit. Consideringthe opportunities and the current economic condition, we aresure of registering an impressive financial performance forthe whole of this year at the end of the current fiscal," thecompany''s Chairman, R C Mansukhani, said.