Chennai, July 21 (PTI): Coimbatore-based Shanthi Gears Ltd has said it made Rs 8.5 crore as profit after tax (PAT) for the quarter ending June 30, 2021.

The company, which is a subsidiary of Tube Investments of India Ltd, reported a net loss at Rs 3.58 crore in the corresponding quarter last year. For the year ending March 31, 2021, the PAT stood at Rs 20.17 crore.

The total income for the quarter under review went up to Rs 69.07 crore from Rs 26.93 crore in the corresponding quarter last fiscal. The total income for the year ending March 31, 2021 was Rs 223.81 crore. In a statement, the company said the key business and financial metrics remained strong during the quarter despite disruptions in operations during the second wave of the COVID-19 pandemic. "Focus on cost optimisation sustained the return on average invested capital (ROIC) at 29 per cent during Q1," the statement said.

The company booked orders for Rs 84 crore and the pending order book as on June 30 was Rs 235 crore as against Rs 164 crore in the corresponding quarter of the previous year, it added.

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