In an interview with CNBC-TV18, Manish Sanghi said that he expects normalcy to return in the fourth quarter and sees a volume uptick compared to Q3.
Revenues in the first quarter ended June saw a 13 percent decline ad the business was hit because of low volumes and minimum import price (MIP) imposed by the government, says Manish Sanghi, MD of Everest Industries.
In an interview to CNBC-TV18, Manish Sanghi, MD of Everest Industries spoke about FY16's first quarter earnings numbers.
Building solutions provider Everest Industries on Wednesday reported a 16.9 percent increase in net profit for the quarter ended June 30 at Rs 22.9 crore mainly on the back of double digit growth in its steel buildings business.
Everest Industries is riding high on the back of a profit of around Rs 11 crore from a land deal, other income of Rs 3 crore and improvement in margins at about 9.5%.
In an interview with CNBC-TV18, Manish Sanghi, MD, Everest Industries spoke about the quarterly performance of the company and the road ahead.