Financial Daily from THE HINDU group of publications
Tuesday, Jul 12, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jul 12, 2005 |
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Corporate Results
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Automobile Components Shanthi Gears Q1 net rises 40 pc on higher sales Our Bureau
Coimbatore , July 11 RIDING the crest of the boom witnessed by the manufacturing sector, the industrial gear manufacturer Shanthi Gears Ltd (SGL) has recorded around 30 per cent growth in net sales during the first quarter of current fiscal, compared to the corresponding period last year. Despite higher cost of raw material and higher provisioning for tax and depreciation, the net profit jumped by about 40 per cent in Q1 of 2005-06. According to the unaudited financial results, the net sales jumped to Rs 33.68 crore in the first quarter of this year, representing an increase of 31.85 per cent over the Rs 25.54 crore sales registered during the corresponding period last year. The raw material cost increased to Rs 14.27 crore (Rs 11.32 crore) and the interest payment was higher at Rs 78 lakh (Rs 36 lakh). After providing Rs 2.05 crore for current tax (Rs 1.65 crore), the net profit was higher at Rs 5.58 crore in the quarter ending June 30 (Rs 3.95 crore).
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