Manaksia Aluminium Company reports 34% increase in net profit in March quarter 2020
Manaksia Aluminium Company, is a manufacturer of aluminium rolled products in coil and sheet form, has released the financial results for the year ended 3lst March, 2020. Net profit stood at INR 2.62 crore in the quarter ended March 2020 as against INR 1.96 crore during the previous quarter ended March 2019. That is up 33.67% year-on-year.
Sales declined 11.62% to INR 63.53 crore in the quarter ended March 2020. The company had reported sales of INR 71.88 crore during the previous quarter ended March 2019.
Net profit came in at INR 5.84 crore for the full year as against INR 7.33 crore during the previous year ended March 2019. This marks a drop of 20.33% year-on-year. Sales increased 2.06% to INR 281.30 crore, from INR 275.61 crore during the previous year ended March 2019.
The company’s major products include aluminium coils, aluminium plain sheets, aluminium roofing sheets, aluminium pre-painted/color coated coils, aluminium flooring sheets (5 Bar & Diamond pattern) etc. Manaksia, which has an annual production capacity of 30,000 tonnes per year, has one of the largest aluminium rolling mills in Haldia, West Bengal.
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