Manaksia Q4 net profit rises nearly 20% QoQ to ₹38 Cr

1 min read 28 May 2023, 05:49 PM IST Join us

Vipul Das

Manaksia Limited, a trusted name in the metal products, has released its quarterly results for the January-March quarter of FY23.

Manaksia Limited was incorporated in 1984. The company is primarily engaged in the trading and export of steel, aluminium and packaging products. (REUTERS) — Manaksia Limited was incorporated in 1984. The company is primarily engaged in the trading and export of steel, aluminium and packaging products. **(REUTERS)**

Manaksia Limited, a trusted name in metal products, has released its quarterly results for the January-March quarter of FY23. According to a filing by the company, its consolidated net profit soared around 20 per cent to ₹38 crore from the last quarter. The same was ₹31 crore in the quarter ended December 31, 2022.

The total income of the company increased around 8 per cent to ₹33 crore from ₹31 crore in the third quarter of FY22.

Its total expenses were up marginally to ₹266 crore in the quarter as against ₹262 crore in the last preceding three-month period.

For the full FY23, the company clocked a consolidated net profit of ₹107 crore, down from ₹186 crore that it had posted in FY22.

As on March 31, 2023, the company has a total asset of ₹1393 crore, according to the filing.

Earlier on Friday, Manaksia Limited shares surged 4 per cent higher at ₹154.40 with a spurt in volume by more than 4.38 times on BSE. At close, it quoted in green at ₹148.50.

Manaksia Limited was incorporated in 1984. The company is primarily engaged in the trading and export of steel, aluminium and packaging products. The company has 4 subsidiaries -- MINL Ltd, Dynatech Industries Ghana Ltd, Manaksia Overseas Ltd and Manaksia Ferro Industries Ltd. Additionally, it has 2 step-down subsidiaries, namely Mark Steels Ltd and Jebba Paper Mills Ltd.

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ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).