Maharashtra Seamless Limited Reports Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013
January 24, 2014 at 01:01 pm
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Maharashtra Seamless Limited reported unaudited standalone earnings results for the third quarter and nine months ended December 31, 2013. For the quarter, the company reported net profit of INR 209.9 million or INR 3.06 per basic and diluted share on net sales/income from operations of INR 2,667.8 million compared to net profit of INR 284.0 million or INR 4.03 per basic and diluted share on net sales/income from operations of INR 3,916.2 million a year ago. Profit from ordinary activities before tax was INR 233.0 million compared to INR 380.7 million a year ago. Profit from operations before other income, financial costs and exceptional items was INR 48.0 million compared to INR 246.2 million a year ago.
For the nine months period, the company reported net profit of INR 687.3 million or INR 10.01 per basic and diluted share on net sales/income from operations of INR 8,785.2 million compared to net profit of INR 1,370.9 million or INR 19.43 per basic and diluted share on net sales/income from operations of INR 13,933.1 million a year ago. Profit from ordinary activities before tax was INR 843.0 million compared to INR 1,797.7 million a year ago. Profit from operations before other income, financial costs and exceptional items was INR 447.1 million compared to INR 1,424.8 million a year ago.
Maharashtra Seamless Limited is India-based company, which is engaged in manufacturing steel pipes and tubes. The Company operates through three segments: Steel Pipes & Tubes, Power Electricity, and RIG. The Company manufactures seamless pipes and tubes with a product range using CPE technology. The Company offers electric resistance welding (ERW) pipes, including mild steel (MS) and galvanized pipes, American Petroleum Institute (API) line pipes and oil country tubular goods (OTCG) casing tubing; seamless pipes, such as hot finished pipes and tubes, cold drawn tubes, boiler tubes, OTCG casing tubing and OTCG drill pipe; coated pipes, including three-layer polyethylene coating, fusion-bonded epoxy coating, internal coating and three-layer polypropylene, and pipe fittings. The Company has also diversified into renewable power generation and rig operations.