PSL Limited, a leading player in manufacturing and coating of pipes for transporting hydrocarbon products, water products, and steel structural applications in India, today reported net sales of Rs. 3,993.5 crore for the year ended March 31, 2010 compared to Rs. 3648.9 crore in corresponding period of last fiscal year.
The profit-before-tax for the financial year stood at Rs. 156.6 crore, as against Rs. 138.5 crore in the corresponding period of last fiscal year.
Net Profit for the year stood at Rs. 122.7 crore as compared to Rs. 94.85 crore posted in the same period of last fiscal year. Diluted Earnings per share (EPS) stood at Rs. 24.75.
The Board announced a total dividend of 40 percent for the 2009/10 financial year.
Commenting on the results, Mr. Ashok Punj, MD, PSL Limited “As we had anticipated, in spite of the ups & downs in the economy, PSL Ltd. has managed to maintain a steady growth on a global level with a healthy pipeline of orders. Going a step further, we made substantial investments this year by commissioning a new 300,000 MT pipe-mill facility in Vizag & enhancing our capacity near Chennai. The close proximity of these mills to the various projects of our clients will ensure major reduction in expensive transportation costs for them. This will definitely give a huge fillip to our business in the coming year.”