Shakti Pumps eyes Rs 200cr revenue this year

Shakti Pumps (India) has reported a sales turnover of Rs 44.77 crore and a net profit of Rs 6.89 crore for the quarter ended Dec '10.
 
For the quarter ended Dec 2009 the sales turnover was Rs 31.78 crore and net profit was Rs 2.62 crore.

In an interview with CNBC-TV18, Dinesh Patidar, CMD, Shakti Pumps, spoke about the results and his outlook for the company. Below is a verbatim transcript of his interview with CNBCTV18's Latha Venkatesh and Gautam Broker. Also watch the accompanying video. Q: If you can take us through the third quarter performance and what led to that very good profit number? Is that what you can expect, Rs 7 crore quarter after quarter now? A: Yes, definitely. Last quarter our revenue was Rs 37 crore and this quarter we have around Rs 44 crore. Net profit figures are also very good. This year, we are sure we are going to be around Rs 200 crore. Q: Your net sales figures are 40%, but on the pat side if we are not wrong, if we have an exceptional income about Rs 5.3 crore, if you can take us through that? What does that constitute and what is the nature of this? Is it an asset sale? A: It is not asset sale. We have purchased and implemented SAP systems, so, we are correcting our valuation system. Q: No what we are asking is what was that Rs 5 crore exceptional income? A: Yes, exceptional income is that our stock inventory is revaluated. Q: And that obviously cannot be repeated next quarter. So, in the January-March quarter, what can you do by way of a profit? A: Yes, next quarter, we are doing very good business with some government business and export business and definitely we will maintain this profit. Q: No, your average profit over a large couple of quarter has been around Rs 3-3.5 crore. So for the fourth quarter will you be coming back to the Rs 3-3.5 crore kind of profit? A: Yes sure. Q: Would that be more like it? A: Yes.