Riddhi Steel and Tube, a leading exporter, manufacturer, supplier of steel pipes, steel tubes  and water gas steam, reported a decline of 36.60% in standalone net profit at Rs  8.92 million for the half year ended September 2020. The company has posted a net profit of Rs 14.07 million in April-September period last year.

The company's revenue from operations decreased 18.85% to Rs  1,177.08 million in the six months ended September 2020 as against Rs 1,450.43 million in the corresponding  period last fiscal.

Total expenses decreased 18.41% to Rs  1,170.07 million for the half year ended September 2020 as against Rs  1,434.15 million in the same period last fiscal.

Riddhi Steel and Tube  EPS has decreased to Rs 1.08 in September 2020 from Rs 1.70 in corresponding six months ended September 2019.