Net revenue for the quarter under review was Rs 433.39 crore compared to Rs 592.85 crore in the year-ago period.
The net profit during the corresponding period of the previous fiscal was at Rs 29.2 crore.
The project will boost Skipper's existing PVC pipes business, as the proposed company will source about 30 percent input materials.
The outlook for Indian market remains promising as it is still one of the better investment destination among the emerging market space.
Looking to bag orders worth Rs 300 crore from Power Grid Corporation of India, Skipper Ltd today said it has secured contracts worth Rs 135 crore from the state-run firm and is expecting confirmation for the rest.
Turnover of the company increased 26 percent at Rs 258 crore in the June quarter as against Rs 205 crore in the year-ago period, the company said in a statement.