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07 NOVEMBER 2022 AL CIRCLE

Maan Aluminium yields 19% higher revenue from operations Y-o-Y to 1.88 billion for 2QFY23

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

On Monday, November 7, Maan Aluminium Limited announced its second quarter and H1 results of the financial year 2022-23 ended September 30, whereby it declared its revenue from operations closing at INR 1.88 billion compared to INR 1.73 billion in Q1 FY23 and INR 1.58 million in Q2 FY22. That showed an increase over the month as well as year, bringing the total income to INR 1.9 billion in the September quarter versus INR 1.74 billion in the June quarter.

Maan Aluminium yields 19% higher revenue from operations Y-o-Y to 1.88 billion for 2QFY23

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Revenue from operations in the first six months of the year (H1) totalled INR 3.6 billion, while total income stood at INR 3.64 billion. The latter grew by 28 per cent INR 2.81 billion during the corresponding period of the last year.

Maan Aluminium also reported that its total comprehensive income in 2QFY22 amounted to INR 131 million, up by 55.95 per cent from INR 84 million in Q1. In H1, the comprehensive income totalled INR 215 million, reflecting a surge of 124 per cent from INR 96 million over a year.

The company’s net profit before tax was INR 289 million in H1 FY23 versus INR 132 million in H1 FY22. That was up by INR 119 per cent year-on-year. Cash generated from operations was INR 54 million, compared to INR 88 million a year ago.

Maan Aluminium revealed that its total assets at the end of H1 FY23 aggregated at INR 2.18 billion, 27.48 per cent more than INR 1.71 billion at the end of H1 FY22.

Earnings per share was INR 9.69 in 2QFY23, up by 56 per cent Q-o-Q from INR 6.21 and 179 per cent Y-o-Y from INR 3.47. EPS in the first six months was INR 15.90 compared to INR 7.32 in the previous quarter and 16.26 a year earlier.

Future of the Global Aluminium Castings Industry

Maan Aluminium is one of the pioneers in the aluminium extrusion industry in India, with a plant being commissioned in 1989 in central India. The company had a humble beginning in manufacturing aluminium extrusions, in a record time of eleven months from the commencement of commercial operations.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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