----

| [X] | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|-----|-----------------------------------------------------------------------------------------|

|   | For the Quarterly Period Ended September 30, 2010 |
|--------|---------------------------------------------------|

| [  ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|----------------|------------------------------------------------------------------------------------------|

|   | For the Transition Period From ________ to _________ |
|--------|------------------------------------------------------|

| Nevada                                   |   | 20-0019425          |
|------------------------------------------|--------|---------------------|
| (State or other jurisdiction of          |   | (I.R.S. Employer    |
| incorporation or organization)           |   | Identification No.) |
|                                     |   |                |
| 321 South 1250 West, #3                  |   |                |
| Lindon, Utah                             |   | 84042               |
| (Address of principal executive offices) |   | (Zip Code)          |

| Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.                              | Yes þ  Noo |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                  |                      |
| Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files.) | Yes o  Noo      |
|                                                                                                                                                                                                                                                                                                                                                                                  |                      |
| Indicate by check mark whether the registrant is a large accelerated filed, an accelerated filer, a non-accelerated filer or a smaller public company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.                                                   |                      |

| Large accelerated filer o                     |   | Accelerated filer o              |
|-----------------------------------------------|--------|----------------------------------|
| Non-accelerated filer o                       |   | Smaller reporting company þ |
| (Do not check if a smaller reporting company) |   |                             |

| Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.)       | Yes o   Noþ |
|------------------------------------------------------------------------------------------------------------------------|---------------------------------|
|                                                                                                                   |                            |
| As of November 7, 2010 the registrant had 45,000,000 shares of common stock, par value $0.001, issued and outstanding. |

----

|                                                                                                                | Page                                                                                                                                                                               |
|---------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                |                                                                                                                                                                               |
| PART I — FINANCIAL INFORMATION                                                                                |                                                                                                                                                                               |
|                                                                                                                |                                                                                                                                                                               |
| Item 1. Financial Statements                                                                                        | 3                                                                                                                                                                                  |
|                                                                                                                |                                                                                                                                                                               |   |
|                                                                                                                | Condensed Consolidated Balance Sheets as of September 30, 2010 (Unaudited) and March 31, 2010                                                                                      | 3 |
|                                                                                                                |                                                                                                                                                                               |   |
|                                                                                                                | Condensed Consolidated Statements of Operations and Other Comprehensive  Income (Loss) (Unaudited) for the three and six month periods ended September 30, 2010 and 2009 |  4 |
|                                                                                                                |                                                                                                                                                                               |   |
|                                                                                                                | Condensed Consolidated Statements of Cash Flows (Unaudited) for the six month periods ended September 30, 2010 and 2009                                                            | 5 |
|                                                                                                                |                                                                                                                                                                               |   |
|                                                                                                                | Notes to Condensed Consolidated Financial Statements (Unaudited)                                                                                                                   | 6 |
|                                                                                                                |                                                                                                                                                                               |
| Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations | 8                                                                                                                                                                                  |
|                                                                                                                |                                                                                                                                                                               |
| Item 3.  Quantitative and Qualitative Disclosure about Market Risk                                        | 15                                                                                                                                                                                 |
|                                                                                                                |                                                                                                                                                                               |
| Item 4.  Controls and Procedures                                                                          | 15                                                                                                                                                                                 |
|                                                                                                                |                                                                                                                                                                               |
| PART II — OTHER INFORMATION                                                                                   |                                                                                                                                                                               |
|                                                                                                                |                                                                                                                                                                               |
| Item 1A.  Risk Factors                                                                                    | 17                                                                                                                                                                                 |
|                                                                                                                |                                                                                                                                                                               |
| Item 6.  Exhibits                                                                                         | 17                                                                                                                                                                                 |
|                                                                                                                |                                                                                                                                                                               |
| Signatures                                                                                                          | 18                                                                                                                                                                                 |

----

| ASSETS                               |
|--------------------------------------|
|                                 |   |   |   | September 30, |   | March 31, |
|                                 |   |   |   | 2010 |   | 2010 |
|                                 |   |   |   | (Unaudited) |   |   |
| CURRENT ASSETS                       |   |   |   |   |   |   |
|                                 | Cash and cash equivalents |   | $ | 1,312,007  |   | $ | 1,931,757  |
|                                 | Accounts receivable, net |   |   | 1,875,151  |   |   | 1,092,037  |
|                                 | Marketable securities-available for sale |   |   | 6,600  |   |   | 7,154  |
|                                 | Inventories |   |   | 764,147  |   |   | 624,679  |
|                                 | Prepaid expenses |   |   | 5,373  |   |   | 999  |
|                                 |   | Total Current Assets |   |   | 3,963,278  |   |   | 3,656,626  |
|                                 |   |   |   |   |   |   |   |   |
| PROPERTY AND EQUIPMENT, net          |   |   | 662,169  |   |   | 559,326  |
|                                 |   |   |   |   |   |   |   |   |
|                                 |   | TOTAL ASSETS |   | $ | 4,625,447  |   | $ | 4,215,952  |
|                                 |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY |
|                                 |   |   |   |   |   |   |   |   |
| CURRENT LIABILITIES                  |   |   |     |   |   |   |
|                                 | Accounts payable |   | $ | 363,741  |   | $ | 216,904  |
|                                 | Accrued liabilities |   |   | 34,453  |   |   | 25,454  |
|                                 | Income taxes payable |   |   | 269,859  |   |   | 494,321  |
|                                 |   | Total Current Liabilities |   |   | 668,053  |   |   | 736,679  |
|                                 |   |   |   |   |   |   |   |   |
| TOTAL LIABILITIES                    |   |   | 668,053  |     |   | 736,679  |
|                                 |   |   |   |   |   |   |   |   |
| STOCKHOLDERS' EQUITY                 |   |   |   |   |   |   |
|                                 | Preferred shares: $0.001 par value, |   |   |   |   |   |   |
|                                 |   10,000,000 shares authorized: no shares |   |   |   |   |   |   |
|                                 |    issues and outstanding |   |   | -  |   |   | -  |
|                                 | Common shares: $0.001 par value, |   |   |   |   |   |   |
|                                 |    100,000,000 shares authorized: 45,000,000 |   |   |   |   |   |   |
|                                 |    shares issues and outstanding |   |   | 45,000  |   |   | 45,000  |
|                                 | Additional paid-in capital |   |   | (31,337) |   |   | (51,449) |
|                                 | Accumulated other comprehensive income |   |   | 239,555  |   |   | 272,416  |
|                                 | Retained earnings |   |   | 3,704,176  |   |   | 3,213,306  |
|                                 | Total Stockholders' Equity |   |   | 3,957,394  |   |   | 3,479,273  |
|                                 |   |   |   |   |   |   |   |   |
|                                 |   | TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |   | $ | 4,625,447  |   | $ | 4,215,952  |

----

|                             | For the Three Months Ended          |                         | For the Six Months Ended |
|----------------------------------|-------------------------------------|------------------------------|--------------------------|
|                             | September 30,                       |                         | September 30,            |
|                             | 2010                                |                         | 2009                     |   | 2010 |   | 2009 |
| REVENUES                         |                                |                         |                     |   |   |   |   |   |   |   |   |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |
|                             | Sales of goods, net                 | $                            | 1,925,420           |   | $ | 1,062,821  |   | $ | 2,561,811  |   | $ | 1,588,890  |
|                             | Sales of services, net              |                         | 211,602             |   |   | 164,451  |    |   | 346,835  |   |   | 308,182  |
|                        |                                |                         |                     |   |   |   |   |   |   |   |   |   |
|                             |                                | Total Revenues               |                     | 2,137,022  |   |   | 1,227,272  |   |   | 2,908,646  |   |   | 1,897,072  |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |   |
| COST OF SALES                    |                                |                         |                     |   |   |   |   |   |   |   |   |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |
|                             | Cost of goods sold                  |                         | 693,454             |   |   | 430,061  |   |   | 1,022,674  |   |   | 681,365  |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |   |
| GROSS PROFIT                     |                                | 1,443,568               |                     |   | 797,211  |   |   | 1,885,972  |   |   | 1,215,707  |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |   |
| OPERATING EXPENSES               |                                |                         |                     |   |   |   |   |   |   |   |   |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |   |
|                             | General and administrative expenses |                         | 287,305             |   |   | 316,426  |   |   | 647,944  |   |   | 746,678  |
|                             | Payroll expenses                    |                         | 236,055             |   |   | 153,507  |   |   | 413,988  |   |   | 322,881  |
|                             | Depreciation expense                |                         | 20,592              |   |   | 10,459  |   |   | 39,464  |   |   | 20,918  |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |   |
|                             |                                | Total Operating Expenses     |                     | 543,952  |   |   | 480,392  |   |   | 1,101,396  |   |   | 1,090,477  |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |   |
| INCOME FROM OPERATIONS           |                                | 899,616                 |                     |   | 316,819  |   |   | 784,576  |   |   | 125,230  |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |   |
| OTHER INCOME (EXPENSE)           |                                |                         |                     |   |   |   |   |   |   |   |   |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |   |
|                             | Interest expense                    |                         | (8,138)                  |   |   | (190) |   |   | (10,762) |   |   | (3,556) |
|                             | Interest income                     |                         | 2,615               |   |   | 17  |   |   | 3,433  |   |   | 77  |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |   |
|                             |                                | Total Other Income (Expense) |                     | (5,523) |   |   | (173) |   |   | (7,329) |   |   | (3,479) |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |   |
| NET INCOME BEFORE INCOME TAXES   |                                | 894,093                 |                     |   | 316,646  |   |   | 777,247  |   |   | 121,751  |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |   |
| INCOME TAX EXPENSE               |                                | 311,797                 |                     |   | 91,401  |   |   | 286,377  |   |   | 29,579  |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |
| NET INCOME                       | $                                   | 582,296                 |                     | $ | 225,245  |   | $ | 490,870  |   | $ | 92,172  |
| UNREALIZED HOLDING GAIN (LOSS)   |                                |                         |                     |   |   |   |   |   |   |   |   |
|                             | ON AVAILABLE FOR SALE SECURITIES    | $                            | 1,920               |   | $ | (640) |   | $ | (554) |   | $ | (975) |
| FOREIGN CURRENCY TRANSLATION     |                                |                         |                     |   |   |   |   |   |   |   |   |
|                             | GAIN (LOSS)                         |                         | 59,033              |   |   | 145,506  |   |   | (32,307) |   |   | 295,532  |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |
| TOTAL COMPREHENSIVE INCOME       | $                                   | 643,249                 |                     | $ | 370,111  |   | $ | 458,009  |   | $ | 386,729  |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |
| BASIC EARNINGS PER SHARE         | $                                   | 0.01                    |                     | $ | 0.01  |   | $ | 0.01  |   | $ | 0.00  |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |
| FULLY DILUTED EARNINGS PER SHARE | $                                   | 0.01                    |                     | $ | 0.01  |   | $ | 0.01  |   | $ | 0.00  |
|                             |                                |                         |                     |   |   |   |   |   |   |   |   |
| BASIC WEIGHTED AVERAGE NUMBER    |                                | 45,000,000              |                     |   | 45,000,000  |   |   | 45,000,000  |   |   | 45,000,000  |
|                             | OF SHARES OUTSTANDING               |                         |                     |   |   |   |   |   |   |   |   |   |
| FULLY DILUTED WEIGHTED AVERAGE   |                                |                         |                     |   |   |   |   |   |   |   |   |
|                             | NUMBER OF SHARES OUTSTANDING        |                         | 45,122,667          |   |   | 45,000,000  |   |   | 45,122,667  |   |   | 45,000,000  |

----

|                                   |                                               |                                                | For the Six Months Ended |
|----------------------------------------|----------------------------------------------------|-----------------------------------------------------|--------------------------|
|                                   |                                               |                                                | September 30,            |
|                                   |                                               |                                                | 2010                     |   | 2009 |
| CASH FLOWS FROM OPERATING ACTIVITIES   |                                               |                                                |                     |   |   |
|                                   | Net income                                         | $                                                   | 490,870             |   | $ | 92,172  |
|                                   | Adjustments to reconcile net income (loss) to      |                                                |                     |   |   |   |
|                                   |   net cash used by operating activities: |                                                |                     |   |   |   |
|                                   |                                               | Depreciation expense                                |                     | 39,464  |   |   | 20,917  |
|                                   |                                               | Impairment of available for sale securities         |                     | -  |   |   | 1,395  |
|                                   |                                               | Bad debt expense                                    |                     | 4,840  |   |   | -  |
|                                   |                                               | Stock options issued for services                   |                     | 20,112  |   |   | 1,676  |
|                                   | Changes in operating assets and liabilities:       |                                                |                     |   |   |   |
|                                   |                                               | Changes in accounts receivable                      |                     | (795,294) |   |   | 95,230  |
|                                   |                                               | Changes in inventories                              |                     | (144,965) |   |   | 83,647  |
|                                   |                                               | Changes in prepaid expenses                         |                     | (4,365) |   |   | -  |
|                                   |                                               | Changes in income taxes payable                     |                     | (218,816) |   |   | (413,100) |
|                                   |                                               | Changes in accounts payable and accrued liabilities |                     | 156,519 |   |   | 112,248  |
|                                   |                                               |                                                |                     |   |   |   |   |
|                                   |                                               |  Net Cash Used in Operating Activities         |                     | (451,635) |   |   | (5,815) |
|                                   |                                               |                                                |                     |   |   |   |   |
| CASH FLOWS FROM                        |                                               |                                                |                     |   |   |
|    INVESTING ACTIVITIES |                                               |                                                |                     |   |   |
|                                   | Purchase of fixed assets                           |                                                | (147,385)                |   |   | (18,788) |
|                                   |                                               |                                                |                     |   |   |   |   |
|                                   |                                               | Net Cash Used in Investing Activities               |                     | (147,385) |   |   | (18,788) |
|                                   |                                               |                                                |                     |   |   |   |   |
| CASH FLOWS FROM                        |                                               |                                                |                     |   |   |
|    FINANCING ACTIVITIES |                                               | -                                              |                     |   | -  |
|                                   |                                               |                                                |                     |   |   |   |   |
|                                   | Effect of exchange rate changes on cash            |                                                | (20,730)                 |   |   | 35,364  |
|                                   |                                               |                                                |                     |   |   |   |   |
|                                   |                                               | NET INCREASE (DECREASE) IN CASH                     |                     | (619,750) |   |   | 10,761  |
|                                   |                                               | CASH AT BEGINNING OF PERIOD                         |                     | 1,931,757  |   |   | 226,559  |
|                                   |                                               |                                                |                     |   |   |   |   |
|                                   |                                               | CASH AT END OF PERIOD                               | $                        | 1,312,007  |   | $ | 237,320  |
|                                   |                                               |                                                |                     |   |   |   |   |
| SUPPLEMENTAL DISCLOSURES OF            |                                               |                                                |                     |   |   |
|                                   | CASH FLOW INFORMATION                              |                                                |                     |   |   |   |
|                                   |                                               |                                                |                     |   |   |   |   |
|                                   | CASH PAID FOR:                                     |                                                |                     |   |   |   |
|                                   |                                               |                                                |                     |   |   |   |   |
|                                   |                                               | Interest                                            | $                        | 10,762  |   | $ | 3,556  |
|                                   |                                               | Income taxes                                        | $                        | 505,080  |   | $ | 454,163  |

----

|                     |   September 30, 2010 |                |   March 31, 2010 |
|--------------------------|--------------------------------|---------------------|----------------------------|
| Raw materials            | $                              | 750,772   |                       | $ | 612,599   |
| Work in progress         |                           | 5,378     |                       |   | 5,432   |
| Finished goods           |                           | 53,004    |                       |   | 53,527   |
| Reserve for obsolescence |                           | (45,007)            |                       |   | (46,879) |
| Total                    | $                              | 764,147        |                       | $ | 624,679   |

----

|                                                        |  For the Three Months Ended |       |  For the Six Months Ended |
|-------------------------------------------------------------|----------------------------------|------------|--------------------------------|
|                                                        |  September 30,              |       |  September 30,            |
|                                                        | 2010                             |       | 2009                           |   | 2010 |   | 2009 |
| Net Income                                                  | $                                | 582,296    |                           | $ | 225,245 |   | $ | 490,870 |   | $ | 92,172 |
|                                                        |                             |       |                           |   |   |   |   |   |   |   |   |
| Basic weighted average number of shares outstanding         |                             | 45,000,000 |                           |   | 45,000,000 |   |   | 45,000,000 |   |   | 45,000,000 |
| Common stock equivalents                                    |                             | 122,667    |                           |   | - |   |   | 122,667 |   |   | - |
| Fully diluted weighted average number of shares outstanding |                             | 45,122,667 |                           |   | 45,000,000 |   |   | 45,122,667 |   |   | 45,000,000 |
|                                                        |                             |       |                           |   |   |   |   |   |   |   |   |
| Basic earnings per share                                    | $                                | 0.01       |                           | $ | 0.01 |   | $ | 0.01 |   | $ | 0.00 |
| Fully diluted earnings per share                            | $                                | 0.01       |                           | $ | 0.01 |   | $ | 0.01 |   | $ | 0.00 |

----

----

----

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----

|                                    | Six months ended |
|-----------------------------------------|------------------|
|                                    | September 30,    |
|                                    | 2010             |   | 2009 |
| Net cash used in operating activities   | $                | (451,635) |   | $ | (5,815) |
| Net cash used in investing activities   |             | (147,385) |   |   | (18,788) |
| Cash flows from financing activities    |             | -  |   |   | -  |
| Effect of exchange rate changes on cash |             | (20,730) |   |   | 35,364  |
| NET INCREASE (DECREASE) IN CASH         | $                | (619,750) |   | $ | 10,761  |

----

----

----

|   | Exhibit 31.1 | Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|--------|--------------|--------------------------------------------------------------------------------------------------------|
|   |         |                                                                                                   |
|   | Exhibit 31.2 | Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|   |         |                                                                                                   |
|   | Exhibit 32.1 | Certification of Principal Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|   |         |                                                                                                   |
|   | Exhibit 32.2 | Certification of Principal Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |

----

|   |              |   | PROFIRE ENERGY, INC. |                    |
|--------|-------------------|--------|----------------------|-------------------------|
|   |              |   |                 |                    |   |
|   |              |   |                 |                    |   |
|   |              |   |                 |                    |   |
| Date:  | November 12, 2010 |   | By:                  | /s/ Brenton W. Hatch    |   |
|   |              |   |                 | Brenton W. Hatch        |
|   |              |   |                 | Chief Executive Officer |

| Date:  | November 12, 2010 |   | By:    | /s/ Andrew Limpert      |   |
|--------|-------------------|--------|--------|-------------------------|--------|
|   |              |   |   | Andrew Limpert          |
|   |              |   |   | Chief Financial Officer |

----

----