NEW DELHI, Jan 19: Engineering product manufacturer Good Luck Steel Tubes today reported a three-fold rise in its net profit for the October–December quarter at Rs 7.38 crore as compared with Rs 2.48 crore a year ago.
Net sales rose by nearly 3 per cent during the quarter to Rs 256 crore from Rs 249 crore in the year-ago period, it said in a BSE filing.
“The third quarter has been quite challenging on various fronts. The spectacular performance of the company is a result of continuous effort on bettering operational efficiency and reducing overall costs. Good Luck Steel Tubes would continue to do well on these fronts in the coming days,” said company Chairman M C Garg.
Clocking 8.4 per cent per cent growth, net sales of the company for the nine-month period rose to Rs 810 crore from Rs 746 crore during the same period last fiscal.
Net profit during the period rose to Rs 21 crore from Rs 15 crore a year earlier.
“The government’s focus on infrastructure does augur well for the company. This will provide us a huge impetus for growth. We have lined up Rs 200 crore investment plan for our various businesses to seize the opportunity in the next two fiscal,” the company said.
(PTI)
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