Srikalahasthi Pipes Limited (formerly Lanco Industries Limited) has reported a sharp rise (164 per cent) in its net profit at Rs.33.93 crore in the first quarter ended June 30, 2015, against Rs.12.84 crore in the same period in the previous year. The profit before tax stood at Rs.45.86 crore against Rs.18.41 crore in the year-ago period. Net sales for the quarter was higher by 18 per cent at Rs.255.85 crore against Rs.216.97 crore in the year-ago period. G.S Rathi, Director, informed that the company was hopeful of achieving its rated capacity during the year following the investment of Rs.100 crore in the previous year.