Pennar Industries Limited, engaged in the production of cold-rolled steel strips, metal profiles and engineering components, reported a 34.77 per cent increase in its standalone net profit to Rs 18.33 crore for the quarter ended December 2010, as compared with Rs 13.6 crore in the corresponding quarter last year. Net income stood at Rs 314.83 crore, as against Rs 210.65 crore in the same period a year ago, reflecting a growth of 49.45 per cent.
The company’s total expenditure increased to Rs 246.40 crore for the quarter, registering a 50.17 per cent growth over the Rs 164.07 crore in the corresponding quarter last year.
On a consolidated basis, Pennar reported Rs 19.6 crore net profit and Rs 354.3 crore total income for the quarter ended in December 2010.
“The consolidated results for the quarter include the results of Pennar Engineered Building Systems Limited, a subsidiary of Pennar Industries. The consolidated results of the same quarter last year have not been given as the subsidiary commenced its commercial production from January 1, 2010,” the company said in a press release on Monday.