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Last Updated : Oct 26, 2016 07:39 PM IST | Source: PTI

Shanthi Gears posts 9% rise in Q2 net

Murugappa Group company Shanthi Gears has recorded a nine per cent rise in net profit at Rs 6.73 crore for the second quarter ending September.

 
 
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Murugappa Group company Shanthi Gears has recorded a nine per cent rise in net profit at Rs 6.73 crore for the second quarter ending September.


In a filing in the BSE, the Tamil Nadu-based company said it had made a net profit of Rs 6.17 crore during the corresponding period in the previous financial year.


Total income from operations for the three month period ending September 30 rose to Rs 50.85 crore from Rs 46.92 crore registered during the year ago period.

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Stating that it focussed on improving its operational efficiencies, the company said, specific cost reduction initiatives resulted in "higher profitability".


The current order book size of the company was Rs 112 crore, it said.


The company continues to remain focused on expanding its customer base, enhancing its service network and improving its operating efficiency through investments in modern technology equipment, it said.


Shares of the company ended at Rs 127.60 apiece today, down by 1.24 per cent over the previous close in BSE.

First Published on Oct 26, 2016 06:54 pm
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