Manaksia Aluminium Company reports 40% decline in net profit in September quarter 2020
Manaksia Aluminium Company, a producer of aluminium rolled products in coil and sheet form, has released its results for the quarter ended September 2020. Net profit stood at INR 0.78 crore in the September quarter as against INR 1.29 crore during the previous quarter ended September 2019. This marks a drop of 39.53% year-on-year.
Sales declined 1.24% to INR 66.16 crore in the quarter ended September 2020. Manaksia Aluminium Company had reported sales of INR 66.99 crore during the previous quarter ended.
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 has an annual production capacity of 30,000 tonnes per year. It has one of the largest aluminium rolling mills in Haldia, West Bengal.
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