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Our Bureau

Hyderabad , Jan. 21

SAMKRG Pistons and Rings Ltd (SPRL) has announced that it has achieved an increase of 21 per cent in net sales and 63 per cent in net profit for the third quarter ended December 31.

In a release, the company said that it has recorded net sales of Rs 18.53 crore (Rs 15.26 crore) and net profit of Rs 1.72 crore (Rs 1.06 crore) on an equity base of Rs 9.82 crore for the quarter under review.

For the nine months ended December 31, the company clocked net profit of Rs 4.97 crore on net sales of Rs 50.33 crore against net profit of Rs 5 crore on net sales of Rs 58.73 crore for the whole of last fiscal.

According to the SPRL Chairman and Managing Director, Mr S.D.M. Rao, the company would become debt-free from long-term interest-bearing loans by the end of the current fiscal.

With improved inventory turnover ratio, the company was able to reduce interest burden to Rs 66 lakh for the nine months ended December from Rs 1.66 crore in the corresponding previous period.

Considering the growth in the auto industry, the company expects to achieve a growth of 15 per cent in sales for the current fiscal over last year, Mr Rao said.

More Stories on : Automobile Components

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