Latest News | Shanthi Gears Reports Q3 Net at Rs 13.77 Cr

Chennai, Feb 3 (PTI) Gear and gear products manufacturer Shanthi Gears Ltd on Thursday reported net profit for the quarter ending December 31, 2021 at Rs 13.77 crore.

The Tamil Nadu-based company, a subsidiary of Tube Investments of India (TII) had registered net profit at Rs 7.70 crore during corresponding quarter previous year.

Also Read | Samsung Galaxy Tab S8 Series Marketing Images Emerge Online Ahead of Its Launch.

For the nine month period ending December 31, 2021 net profit was at Rs 30.25 crore as compared to Rs 10.75 crore registered year ago.

Total income for the quarter under review grew to Rs 97.20 crore from Rs 66.72 crore registered in the corresponding quarter previous year. Total income for the nine month period ending December 31, 2021 was at Rs 240.20 crore as against Rs 149.07 crore registered same period last year. In a statement, Shanthi Gears said the company continues to focus on four key priorities -- revenue growth, profitability, ROIC (Return on average Invested Capital) and free cash flow.

Also Read | Harcox Finance: A DeFi Project Offering Accessible Scaling Solutions Arrives.

The highest ever revenue was Rs 94.7 crore reported in the quarter under review which was 46 per cent higher over same quarter of previous year. The focus on cost optimization and lower capital employed enabled the company to sustain the return on average invested capital to 41 per cent during the quarter.

During the quarter under review, the company said it registered an order booking of Rs 93 crore and pending order book as on December 31, 2021 was Rs 272 crore.

The board which met today declared an interim dividend of Rs 2.5 per share (face value Re 1 per share) for the financial year 2021-22, it added.

(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)