Srikalahasthi Pipes Ltd. (formerly Lanco Industries) has posted standalone net profit of ₹25 crore for the second quarter ended September against ₹36 crore in the year-earlier period.The maker of ductile iron (DI) pipes had posted a net loss of ₹8 crore during the first quarter following COVID-019-led lockdown.
SPL produced 64,872 tonnes of DI Pipes against 77,407 tonnes. Total income contracted to ₹414 crore from ₹475 crore.
Normalcy has been resorted at the plant since September 2020 and it is functioning at full capacity. The company is having sufficient orders in hand, said G.S. Rathi, wholetime director, SPL.
The on-going expansion projects in respect of commissioning of new blast furnace and creating DI pipes capacity of four lakh tonnes is on as per schedule, he said.
A letter from the Editor
Dear reader,
We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.
Support Quality Journalism
A letter from the Editor
Dear subscriber,
Thank you!
Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.
The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.
We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.
Suresh Nambath
