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11 NOVEMBER 2020 AL CIRCLE

MAAN Aluminium reports 7.01% hike in profit Y-o-Y to INR 3.36 crore in Q2FY21; Sales decline by 43.1%

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

India-based aluminium extrusion producing company MAAN Aluminium has reported the financial results of the September quarter 2020 revealing that its net profit increased by 7.01 per cent year-on-year from INR 3.14 crore to INR 3.36 crore, despite the decline in sales by 43.09 per cent to INR 93.15 crore as against INR 163.67 crore  during the same quarter last year.

MAAN Aluminium reports 7.01% hike in profit Y-o-Y to INR 3.36 crore in Q2FY21

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MAAN reported that its total unaudited assets (non-current and current) stood at INR 119.56 crore as of September 30, 2020. Equity stood at INR 55.1 crore, while liabilities (non-current and current) at INR 64.46 crore.

MAAN’s income in the September quarter stood at INR 93.78 crore, up by 85 per cent from INR 50.6 crore quarter-on-quarter but down by 43.13 per cent from INR 164.89 crore year-on-year. Total income of the company in the first six months of FY2021 came in at INR 144.36 crore versus INR 301.69 crore during the same period last year.

Expenses in Q2 FY2021 totalled INR 89.26 crore, 84.23 per cent higher than INR 48.45 crore in Q1. On a year-on-year calculation, expenses reduced by 35.18 per cent from INR 137.71 crore. Expenses in the first two quarters of the year came in at INR 137.71 crore as against INR 295.41 crore during the same period last year.

Global Bauxite Industry Insights

Cash flows from operating activities stood at INR 8.99 crore in Q2 ending on September 30, which in Q1 was INR 8.73 crore.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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