Ratnamani Metals & Tubes Limited Announces Unaudited Financial Results for the Third Quarter and Nine Months Ended December 31, 2013
January 30, 2014 at 12:03 pm
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Ratnamani Metals & Tubes Limited announced unaudited financial results for the third quarter and nine months ended December 31, 2013. For the quarter, the company reported net sales of INR 3,344.103 million against INR 2,610.767 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 522.452 million against INR 429.838 million a year ago. Profit from ordinary activities before tax was INR 536.327 million against profit from ordinary activities before tax of INR 459.276 million a year ago. Net profit for the period was INR 359.405 million or INR 7.70 per diluted share against net profit for the period of INR 316.424 million or INR 6.78 per diluted share a year ago.
For the nine months, the company reported net sales of INR 8,835.810 million against INR 8,201.572 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 1,374.121 million against INR 1,382.919 million a year ago. Profit from ordinary activities before tax was INR 1,408.42 million against profit from ordinary activities before tax of INR 1,425.295 million a year ago. Net profit for the period was INR 920.172 million or INR 19.72 per diluted share against net profit for the period of INR 964.637 million or INR 20.68 per diluted share a year ago.
Ratnamani Metals and Tubes Limited is an India-based holding company. The Company is engaged in manufacturing of iron and steel tubes, tube fittings and pipes, including stainless steel seamless and welded tubes and pipes, nickel alloy seamless tubes, carbon steel welded pipes, alloy steel welded pipes, titanium welded tubes, and induction bend. It has a product range that services approximately 20 user sectors. The Company provides critical tubing and piping solutions to diverse range of industries and niche markets in core sectors, such as oil and gas, refinery and petrochemical, dairy, chemical and fertilizer, thermal, solar and nuclear power, liquefied natural gas (LNG), desalination, defense, aerospace, chillers and cooling system, pulp and paper industry, automobile, and others. The Companyâs manufacturing facilities are located in at Kutch, Indrad and Chhatral in the state of Gujarat, India.