Skipper back in black with profit of Rs 16 crore in Q1; gets new orders worth Rs 1,215 crore

Kolkata-based Skipper Limited is one of the leading companies in the power transmission and distribution and the polymer segment.

Power transmission company Skipper Ltd on Thursday said it has returned to black with a net profit of Rs 16.2 crore in the April-June quarter, on account of higher revenues. It had clocked a net loss of Rs 6.47 crore during the corresponding quarter of the preceding fiscal, the company said in a regulatory filing.

The company’s revenues surged to Rs 55.60 crore in the reporting quarter from Rs 41.72 crore in the year-ago period. Sharan Bansal, Director, Skipper Limited, said the company witnessed a remarkable 33 per cent growth in revenue over the previous year’s quarter.

The board of directors of the company also approved the reappointment of Pramod Kumar Shah as an independent director in the company for the second time. His term of 5 years will be effective September 30, 2023, subject to the approval of the shareholders. The company also said that it has secured fresh orders worth Rs 1,215 crore for engineering product supplies and EPC works from countries like Egypt, Iraq, Bolivia, Australia, Nepal, Finland, and major projects from Power Grid Corporation Of India Ltd in India.

"Our consistent performance across major business segments has propelled us forward. With an impressive closing order book of Rs 53,720 million in the engineering segment, comprising 76 per cent from the domestic market and 24 per cent from exports, we’ve cemented our position as a leader in the global Power T& D (transmission and distribution) sector," he said. Kolkata-based Skipper Limited is one of the leading companies in the power transmission and distribution and the polymer segment.