Latest News | Shanthi Gears Reports Q2 PAT at Rs 21.02 Cr, Up 26.6 Per Cent

Chennai, Oct 25 (PTI) Gear manufacturer Shanthi Gears has reported a 26.6 per cent rise in its profit after tax for the quarter ended September 30, 2023, at Rs 21.02 crore, the company said on Wednesday.

The Tamil Nadu-based company had registered a profit after tax at Rs 16.60 crore during the corresponding period of last year.

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For the six-month period ended September 30, 2023, the profit after tax grew to Rs 39.14 crore from Rs 30.04 crore registered in the same period of last year.

Total income during the quarter under review grew to Rs 139.36 crore from Rs 112.03 crore registered in the corresponding period of last year.

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For the half year ended September 30, 2023, the total income surged to Rs 264.80 crore as against Rs 213.02 crore registered in the same period of last year.

The company, a subsidiary of Tube Investments of India Ltd, in a statement, said it focuses on four key priorities -- revenue growth, profitability, return on invested capital, and free cash flow.

SGL delivered a strong performance on all these four priorities, the company said.

During the quarter under review, the company said it booked orders for Rs 149 crore with a 43 per cent growth over Q2 of last year.

(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)