Goldstone Infratech Q1 net income is Rs 782.41 lacs

RELATED NEWS MTNL Q1 net profit at Rs 115 cr Tulip Telecom delivers 61% net profit growth TTML partners with Net Core Solutions for SMS alert service ALSO READ See latest News about Goldstone Infra See previous management interviews See what other Experts & Brokerages are saying about Goldstone Infra Goldstone Infra BSE | NSE 31/05/12 Are Mutual Funds betting on Goldstone Infra?

Riding on the strong demand for its composite insulators, Goldstone Infratech Limited (formerly Goldstone Teleservices Limited; BSE: 532439; NSE: GOLDINFRA), a leading player in the telecommunications equipment industry, posted a net profit of Rs. 57.85 lacs for the first quarter of the present fiscal.

 

The company's net sales and income from continuing operations for the quarter was Rs. 782.41 lacs.

 

Commenting on the results, L.P. Sashikumar, Managing Director of Goldstone Infratech Limited said, "We have a strong order book position and our insulators have been gaining bigger market shares amongst suppliers to power transmission companies in India."

 

GIL bagged one single order of Rs 10 Cr from a State Electricity Board, the biggest order for Composite Insulators in India. This order is a combination of 132kV and 220kV insulators.

 

GIL bagged one more single order for the supply of Very High Voltage Insulators of 400kV worth Rs 7 Cr from one of India's biggest turnkey contractors. The Company bagged two Export orders on trial basis from Israel and Uganda for the supply of 11kV & 33kV.

 

Total orders on hand to execute are Rs.35 Crs. These orders include range of insulators from 11kV to 400kV. GIL got Approval from PGCIL for the supply of 400kV.  They will complete the supply of 400KV insulators to PGCIL by the end of August 2008.

 

The Company is expecting to start new products called Surge arrestors, Fuse Cutouts by next quarter. Marketing for these products has already started and customers are ready to place orders with us.

 

The Company expects to start manufacturing of Corrosion protective heat shrinkable sleeves for Oil & Gas Pipelines on a commercial level by 2^nd week of September 2008. They have tied up with Asia's reputed manufacturers for the machinery.

 

"Going forward, we expect the insulator business to be a major revenue stream for Goldstone Infratech as we introduce newer products related to transmission and distribution and add capacities," Mr. Sashikumar added. 

 

Sourced From: Concept Public Relations India Pvt. Ltd