Mumbai, India (PressExposure) May 29, 2009 -- 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. 1,216.57 crore for the quarter ended March 31, 2009 compared to Rs. 655.62 crore in corresponding period of last fiscal year, registered an increase of 85%.
Net Profit for the fourth quarter stood at Rs. 13.60 crore as compared to Rs. 18.32 crore posted in the same period of last fiscal year. Diluted Earnings per share (EPS) stood at Rs. 3.14.
The company has announced 50% dividend (including 25% interim) or Rs 5 per share of Rs 10 face value.
Consolidated net sales for the year ended March 31, 2009 grew by 58 % to Rs. 3,559.93 crore compared to Rs. 2,248.29 crore in the corresponding period of last fiscal year, while net profit for the 12 months ended March31, 2009 rose by 12 % to Rs. 94.85 crore, as against Rs. 84.49 crore posted in the same period of last fiscal year.
Diluted earnings per Share (EPS) for 12MFY09 worked out to Rs. 21.91 as compared to Rs. 20.81 for the same period of last fiscal year. The operating margin for FY09 stood at 8.7% as against 10.5% in corresponding period of last fiscal year
Commenting on the results, Mr. Ashok Punj, MD, PSL Limited "The Company has posted a robust performance due to enhanced market demand for the company's products. We are hopeful that in view of the growing demand from oil and gas sector and Government's emphasis on providing water for all, we will continue to chart out impressive growth in the coming quarters as well".