Wagon manufacturer, Titagarh Wagons reported a sales turnover of Rs 128.04 crore and a net profit of Rs 15.88 crore for the quarter ended December 10. For the quarter ended December 2009 the sales turnover was Rs 137.33 crore and net profit was Rs 15.46 crore.
The company`s current order book position stands at Rs 600 crores, says, Umesh Choudhary, managing director of Titagarh Wagons. Its subsidiary, Cimmco, which has an orderbook of about 1,760 wagons, would reach its optimal production level over the next five-six months time and is expected to add to revenue growth in FY12, he adds. Below is the verbatium transcript of Umesh Choudhary's interview with Latha Venkatesh and Gautum Broker of CNBC-TV18. Also watch the accompaning video. Q: You did see a drop in your net sales in year on year terms, what accounted for this slightly flattish to lower sales? A: For us practically the third quarter of this fiscal was a two month quarter because the Indian Railway orders were delayed and they were placed only in the month of October. So, whatever we had to do as far as this quarter in terms of revenue is concerned had to be done in two months. But if you look at the profits before tax, we have still been able to post a 20% growth on the profit. If you look at the nine month sales, we have a 20% growth on revenue and almost a 40% growth in profit in the current nine months compared to the previous nine months. Q: So whatDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
