Gear and gear products maker Shanthi Gears Ltd has reported a 34.8 percent rise in its profit after tax for the April-June 2023 quarter at Rs 18.12 crore.
The Coimbatore-based firm, part of the diversified conglomerate Murugappa Group, had registered a profit after tax (PAT) at Rs 13.44 crore during the corresponding quarter of last year.
For the year ending March 31, 2023, the PAT stood at Rs 67.05 crore. The total income during the quarter under review grew to Rs 125.44 crore from Rs 100.99 crore registered in the same period of last year. For the year ending March 31, 2023, the total income of the company was at Rs 456.89 crore.
In a statement, the company said the focus on cost optimisation and lower capital employed enabled it to sustain a healthy Return On average Invested Capital (ROIC) to 54 percent during the quarter under review. The company generated free cash flow of Rs 34.3 crore during the quarter ending June 30, 2023, the statement said.
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