India-based pipe manufacturing company, Man Industries, posted a net profit of Rs174mn in Q1 of FY2020, compared to net profit of Rs27mn in the prior year period, a jump of 549pc backed by revival of demand in domestic as well as overseas market.
The company’s EBITDA increased by 97pc in Q1 to Rs555mn from Rs282mn in the prior year period. Company’s total revenue stood at Rs4.1bn, up by 68pc, compared to 2.4bn in Q1FY2019.
The company’s manufacturing facilities have a total combined capacity of 1mn mt.
($1= Rs 74.8)