Financial Daily from THE HINDU group of publications
Tuesday, Jan 20, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jan 20, 2004 |
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Corporate Results
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Automobile Components Shanthi Gears net rises Our Bureau
COIMBATORE: Shanthi Gears Ltd has reported a 150 per cent rise in its net profit during the third quarter ended December 31, 2003 when the company could book higher sale income. The company could raise its net sales by 55 per cent to Rs 22.91 crore as against Rs 14.74 crore. The net profit soared to Rs 3.92 crore against Rs 1.57 crore.The unaudited financial results for the quarter adopted by the board of directors of the company has revealed that its profit before tax stood higher at Rs 5.98 crore as against Rs 2.46 crore. Its raw material cost stood higher at Rs 8.36 crore (Rs 4.67 crore) and its depreciation and interest charged remained at Rs 2.15 crore (Rs 1.45 crore) and Rs 25 lakh (Rs 28 lakh), respectively. The board of directors approved the takeover of Shanthi Precision Industries Ltd as a going concern by way of amalgamation effective from July1, 2003.
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