Maan Aluminum earnings plummet 97pct

Maan Aluminum reported a phenomenon drop in standalone net profit for the quarter ended December 2010. During the quarter, the profit of the company declined 97.01% to INR 0.20 million from INR 6.70 million in the same quarter last year.

Net sales for the quarter for the quarter rose 2.04 times to INR 244.70 million while total income for the quarter jumped 2.04 times to INR 244.70 million when compared with the prior year period.

It posted earnings of INR 0.06 per share during the quarter registering 96.95% decline over prior year period.