India’s large diameter carbon steel pipe manufacturer MAN Industries Limited (MIL) has reported a net profit of INR 190.50 million ($2.26 million) in the first quarter (April-June) of the fiscal year 2024-25, a rise of 69.94 percent over the corresponding quarter of the previous year, according to a company statement on Tuesday, August 13.
The company reported total sales revenue of INR 7.49 billion ($89.13 million) in the given quarter, up 52.67 percent over the corresponding quarter of the previous fiscal year.
The company reported that it is going ahead with the construction of a new steel pipe manufacturing and coating facility in Damman, Saudi Arabia, entailing an investment of INR 6 billion ($ 71.41 million).
