MAAN Aluminium, an India-based aluminium products manufacturer and seller, announced its third quarter results that ended December 31, FY2023, reporting net sales of INR 189.62 crore versus INR 188.20 crore in the September quarter. The data indicated the company’s Q3 net sales improved marginally by 0.75 per cent from Q2 but recorded a significant growth of 15.31 per cent from INR 164.44 crore in Q3 FY2022.
MAAN Aluminium records 257% Y-o-Y hike in net profit for 3QFY23
Net profit for Q3 FY23 stood at INR 14.01 crore, up by 6.95 per cent from 13.10 crore in Q2 and 257.4 per cent more than INR 3.92 crore in Q3 FY2022.
MAAN Aluminium’s EBITDA stood at INR 20.85 crore in the December quarter, which also reflected a hike of 179.49 per cent year-on-year from INR 7.46 crore.
Earnings per share increased to INR 10.37 in the third quarter of the current fiscal year from INR 9.69 in the previous quarter and INR 2.90 in Q3 FY2022.
MAAN’s shares closed at 230.85 as of February 3, giving 75.42 per cent returns over the past six months and 90.94 per cent over the last twelve months.
Global Aluminium Industry Outlook 2023
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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