Leading SAW pipes manufacturer MAN Industries has clocked a net profit of Rs 22.24 crore in Q1 FY11, up from the Rs 2.86 crore in the year-ago period.
Its net sales stood at Rs 332.65 crore in the reporting quarter as compared to Rs 321.91 crore in the year-ago period, a press release issued here stated.
Commenting on the results, its Chairman, R C Mansukhani, said that "this has been an excellent quarter for the company with optimum inventory management".
"With a total order-book position of Rs 1,500 crore to be completed during the current financial year, we are confident that the remaining three quarters would be highly positive for the company. The outlook thus remains very positive," he added.
