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Building solution firm, Everest Industries, on Friday reported more than two-fold jump in its net profit at Rs 12.51 crore for the quarter ended September 30.
The company had posted a net profit of Rs 6.02 crore in the year-ago period.
The total income increased by nearly 20 per cent during June-September quarter of 2012-13 fiscal at Rs 222.09 crore compared with Rs 185.74 crore in the corresponding period of the previous year.
“Good demand from user industries led to increase in the revenue and profit during the second quarter,” Everest Industries Managing Director, Manish Sanghi, said.
He, however, said the net profit is lower than the first quarter because of monsoon season during when the construction activities slows down. In the April-June quarter, the company had posted a net profit of Rs 26.32 crore.
The order book of the company, which manufactures cement roof sheet, cement board and pre-engineered steel buildings, currently stands at about Rs 160 crore, he added.
Everest Industries has five plants with annual capacity of seven lakh tonnes of building products.
“We are setting up a new plant in Odisha with a capacity of one lakh tonnes of building products at an investment of about Rs 50 crore,” Sanghi said.
The existing plants are in Madhya Pradesh, West Bengal, Maharashtra, Uttarakhand and Tamil Nadu.
The company’s share price fell by 4.34 per cent at Rs 219.20 on the BSE.
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