Jindal Saw Q2 net up 49 pc at Rs 70 cr
Pipe manufacturer Jindal Saw on Saturday posted 49.05 per cent increase in net profit at Rs 70.25 crore for the quarter ended March 31, as compared to Rs 47.13 crore for the same quarter last year.
By PTI |
MUMBAI: Pipe manufacturer Jindal Saw on Saturday posted 49.05 per cent increase in net profit at Rs 70.25 crore for the quarter ended March 31, as compared to Rs 47.13 crore for the same quarter last year.
The total income (net of excise) increased 33.21 per cent to Rs 1272.27 crore for the second quarter ended March 31, from Rs 955.04 crore for the corresponding quarter a year ago, the company informed the Bombay Stock Exchange.
Increased focus on improvement of the water and sanitation facilities is offering ample business opportunities to the companies supporting the water and sewage infrastructure, the company said.
Considering the increased E&P activities leading to higher demand of seamless tubes, the company projects a significant growth in the SAW pipe, seamless pipe and ductile iron pipe business.
The company has global distribution mechanism for its diversified business portfolio. Its presence in various businesses segments including SAW pipe, seamless pipe, ductile iron pipe and steel plates also provide opportunity to remain in domestic as well as global markets.
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The board has co-opted Indresh Batra as director of the company and appointed as Managing Director with effect from April 28, for a period of five years.The growth in crude demand is resulting in 'tight' pipeline capacities in various regions across the world. Lack of capacity is likely to temper the distribution market resulting in fuel shortages or retail price hike, it added.
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