Srikalahasti Pipes Ltd., has posted a 21.07% dip in its standalone net profit for the third quarter ended December 2018 to ₹31.15 crore against ₹39.47 crore in the year-earlier period on account of higher cost of raw materials. The company posted a total income of ₹409.80 crore against ₹424.63 crore. On Thursday, the board appointed R.K. Khanna, independent director, as chairman with effect from January 31.