Maan Aluminium reports over 100% quarterly hike in net profit despite 21.5% decline in sales during 1Q2022
Maan Aluminium, a downstream aluminium producer in India, has announced its net sales of INR 129 crore for the March quarter of 2022, down by 21.55 per cent from INR 164.44 crore in the December quarter and 20.99 per cent lower than INR 163.27 crore during the same period last year.
But despite the downfall in net sales, Maan Aluminium has reported a sharp quarterly increase of 108.42 per cent in net profit to INR 8.17 crore in Q4 ended March 31. On a year-on-year basis, the net profit grew 55.32 per cent from INR 5.26 crore.
Earnings per share also hiked on the quarter by 108.28 per cent from INR 2.9 to INR 6.04 in 4Q2022. But compared to a year ago, it plunged by 22.37 per cent from INR 7.78.
As of May 20, 2022, Maan Aluminium’s shares closed at 137.25. As per a report, the company gave 14.81 per cent returns in the last six months and 46.74 per cent in twelve months.
Maan Aluminium is engaged in manufacturing and selling aluminium products, such as aluminium sections/profiles. It manufactures a range of shapes used in automobiles, automation, air conditioning, and architectural building. The company began its journey in 1988 with a project of manufacturing aluminium extrusions.
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