Latest News | Skipper Ltd Posts Rs 16.2 Cr Profit in Q1 FY'24
Get latest articles and stories on Latest News at LatestLY. Skipper Ltd, a leading manufacturer of power transmission and distribution structures, on Thursday reported a net profit of Rs 16.2 crore for the first quarter of FY24, as against a loss of Rs 65 lakh in the corresponding period last year.
Kolkata, Aug 10 (PTI) Skipper Ltd, a leading manufacturer of power transmission and distribution structures, on Thursday reported a net profit of Rs 16.2 crore for the first quarter of FY24, as against a loss of Rs 65 lakh in the corresponding period last year.
The company's consolidated revenue for the April-June period of the 2023-24 fiscal stood at Rs 554.6 crore, up by 33 per cent from Rs 416.1 crore in the same quarter last year.
Its engineering segment's operating EBITDA margin for Q1' FY24 was at 12 per cent, a company official said.
"The Q1' FY24 report is a testament to our strategic prowess, as the engineering segment operating EBITDA margin stands strong at 12 per cent. We secured fresh orders of Rs 1,215 crore for engineering product supplies and EPC works from strategic nations including Egypt, Iraq, Bolivia, Australia, Nepal, Finland, and major projects from Power Grid Corporation Of India Ltd," Skipper Director Sharan Bansal said.
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Its polymer business also performed well, with revenue growing by 46 per cent over the year-ago quarter.
The closing order book, as on June 30, is valued at Rs 5,372 crore, which constitutes 24 per cent of exports and the rest from the domestic market.
The company was aiming at bidding opportunities in an international order pipeline of Rs 6, 000 crore and in domestic projects worth Rs 6,550 crore, the official said.
It is well-positioned to capitalise on the growth opportunities in the power, telecom, and railway sectors, he said.
(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)