See better H2 despite commodity price decrease: Ratnamani

Metal tubes and pipes maker Ratnamani Metal reported a net profit of Rs 32.40 crore in the September quarter, down 34 percent year-on-year.

Prakash M Sanghvi, CMD, Ratnamani Metals told CNBC-TV18 said topline was under pressure due to falling commodity prices.

He expects the second half of the year to be better despite a disappointing September quarter and the company achieving at least its last year’s turnover.Below is the verbatim transcript of Prakash M Sanghvi's interview with Nigel D\\'Souza & Surabhi Upadhyay on CNBC-TV18. Nigel: The numbers on the whole look pretty subdued. On the topline there was a dip of close to around 7 percent, could you give us the revenue breakup, how much of it came in from the oil and gas sector, how much of it came in from the water business and industrial projects pipes as well? A: Q2 total topline is about Rs 408 crore and out of that major quantity has been gone for water that is from carbon steel segment. Surabhi: It is not just the topline, even at the operating level you felt significant amount of pressure, EBITDA falling over 30 percent, do you expect this phenomenon to play out for the second half of the year as well? A: No because compared to last quarter of the year -- last quarter the oil and gas prices were more, actually there is always a quarter-to-quarter difference in EBITDA but overall if you see year-on-year (Y-o-Y) it won't be different by one percent here and there.For entire interview, watch accompanying video.