Kolkata, Feb 12 (PTI) Skipper Ltd, a leading manufacturer of power, telecom and railway structures, on Monday announced a 115 per cent jump in consolidated net profit to Rs 20.4 crore for the third quarter ended December 2023 in the current fiscal, up from Rs 9.5 crore in the year-ago period.

The city-based company reported an 80 per cent increase in revenue to Rs 801 crore in the October-December quarter. EBITDA margin slipped marginally to 9.6 per cent in the quarter but the company said on an annualised basis, it has improved to 9.9 per cent in the April-December period.

Also Read | Lok Sabha Elections 2024: AAP's Political Affairs Committee To Discuss Party Candidates for LS Polls, Alliance With Congress.

The company, in a statement, said for Q3 FY'24, the order inflow was Rs 402 crore and for the year-to-date, the same was Rs 3,145 crore for engineering product supplies and EPC works.

The closing order book stood at Rs 5,779 crore and of which, 18 per cent is exports Skipper stated that the polymer sector achieved a volume jump of 60 per cent to 24,654 MT in the nine months of FY'24.

Also Read | NEET 2024: Registration Begins, Gain Exam Pattern Insights Along with Mock Test Papers.

Speaking on performance and outlook, Skipper director Sharan Bansal said, "The order bidding pipeline remains robust with Rs 9,830 crore on the international front and Rs 5,200 crore on the domestic front."

“We are also pleased to announce the successful closure of fund-raising through the right issue, which was oversubscribed 1.77 times," he said.

The company raised Rs 199 crore through the issue.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)