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Friday, May 26, 2006

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Man Industries net up 91 pc

Our Bureau

Mumbai, May 25

Man Industries (India) Ltd, manufacturer and exporter of SAW pipes and aluminium extrusion, has reported a 91.32 per cent increase in net profit at Rs 35.05 crore for the year ended March 2006. Sales increased to Rs 869.93 crore from Rs 510.34 crore in the earlier year. The company attributed the growth in profits and sales to the increased productivity at its newly commenced plant in Anjar, Gujarat. The board has recommended a dividend of Rs 2.50 per share. Man Industries said that its manufacturing facilities with closer proximity to ports at Mundra and Kandla would contribute to significant savings in logistics.

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