Batliboi’s consolidated profit up by 168%

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Batliboi’s consolidated profit up by 168%

Batliboi’s Consolidated Profit up by 168%. Consolidated net profits improved to Rs. 199 lacs from Rs. 74 lacs against the previous quarter. Consolidated turnover improved to Rs.7, 202 lacs from 6,535 lacs against the previous quarter.

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Batliboi Ltd ., one of India's leading Engineering companies, today announced its Unaudited Financial Results for the quarter ended 30^th September 2008. 

The financial highlights for the quarter that ended 30^th September 2008 are given below:

Consolidated net profits improved to Rs. 199 lacs from Rs. 74 lacs against the previous quarter.

Consolidated turnover improved to Rs.7, 202 lacs from 6,535 lacs against the previous quarter.

The results take into account the performance of both Quickmill Inc. in Canada and AESA s.a in France, the two acquisitions the company had made last year.

Commenting on the performance in the quarter, Mr. Nirmal Bhogilal, Chairman cum Managing Director said: "The recession in the textile industry has adversely affected the Textile Air Engineering and Textile Machinery businesses of the Company.  The results have also been affected by the unprecedented increase in raw material costs during the quarter under review.   Whilst  the raw material  prices  have  started  easing  which will have a positive impact on future costs, the global  crisis  which  is  currently  being  felt  in India also will have its adverse effect on the capital goods industry in India.  Therefore, the next few quarters will be extremely challenging for the Company." 

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