The Hindu Business Line : Shanthi Gears net, sales rise

SHANTHI Gears Ltd (SGL) has recorded a near 60 per cent jump in sales and a similar increase in net profit in the third quarter of current fiscal compared with the corresponding period during last year.

The company's gross sales and net profit in the first nine months of the current fiscal have overtaken the full year's performance in the previous year.

SGL has registered gross sales of Rs 40.03 crore during Q3 of current year compared with Rs 25.88 crore during the same period last year. After making provisions under various heads such as raw material cost, staff cost, interest and depreciation and tax, the net profit stood at Rs 6.59 crore in the quarter ending December 2004 compared with Rs 3.92 crore in the same period last fiscal.

The EPS for the last quarter, on an expanded capital after the 1:1 bonus issue, was higher at Rs 0.84 (the face value of the share is Re 1) as against Rs 0.50 in the corresponding quarter in the previous year.

In the first nine months of the current fiscal, the company's gross sales has crossed the Rs 100-crore mark to touch Rs 100.20 crore that was higher than Rs 97.64 crore registered during the entire 2003-04.

The net profit was also higher at Rs 14.95 crore in the first nine months of current year compared to Rs 13.23 crore in the whole of last year.

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