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Our Bureau

Hyderabad, Nov. 3 Pennar Industries Ltd has posted sales of Rs 194.72 crore and profit of Rs 12.01 crore for the September quarter, with the latter going up 20 per cent over the corresponding quarter last year.

For the half year ended September 30, 2009, the company recorded revenues of Rs 390.17 crore and net profit of Rs 22.79 crore. The annualised cash EPS for the half year is Rs 5.29 per equity shares of Rs 5 each.

The company has received all approvals to buy back 65 lakh shares from the open market and has started picking up shares. The company management expects to complete the required buyback during the third quarter of the current fiscal.

According to a statement, in order to cater to the expanding market for Railways, the company is putting up additional buildings and manufacturing facilities at its Chennai plant and installing automated rotary compressor shell manufacturing facility at its Ishnapur plant.

Pennar Engineered Buildings Systems, the company subsidiary, has completed the construction of its new manufacturing facility at Sadasivapet near Hyderabad. The trail production has started and commercial production is expected to commence during the third quarter.

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