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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Updated: 28 May 2023, 06:02 PM IST