Business Daily from THE HINDU group of publications
Monday, Nov 02, 2009
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Business Daily from THE HINDU group of publications Monday, Nov 02, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate Results
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Engineering States - Tamil Nadu Shanthi Gears Q2 sales, net dip 
Our Bureau Coimbatore, Nov. 1 The turnover and net profit of Shanthi Gears Ltd slumped in the second quarter of current fiscal compared with the corresponding quarter last year. In fact, the turnover in the first two quarters of the current year is less than 50 per cent of the turnover in the same half of last fiscal. The company Chairman and Managing Director, Mr P. Subramanian, attributed the decline in turnover to the “measures taken by the company to revamp, restructure the entire operational and organisational structure and scaling down of plant operations”. According to the unaudited financial results, the net sale/income from operations in the quarter ended September 30 this year was Rs 29.40 crore as against Rs 65.59 crore. The net profit was just Rs 2.68 crore (Rs 12.18 crore). In the first half of current fiscal, the turnover was Rs 65.25 crore, which was less than the turnover of the second quarter of last year (Rs 65.59 crore) and about 50 per cent of that in the first half of last year (Rs 125.87 crore). More Stories on : Engineering | Tamil Nadu
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