Pitti Laminations Ltd has commissioned a new plant for machining near Hyderabad and has begun trial runs for another plant at Aurangabad for machining and laminations.
The Hyderabad-based manufacturer of electrical laminations has also begun commercial delivery of products to GE India and expects this to contribute t its growth this year.
Akshay S Pitti, Vice-Chairman and Managing Director of Pitti Laminations, said, “Continuing on the growth momentum we gained during the last few quarters, the company recorded robust performance during the second quarter supported by various operational and strategic initiatives we started in the past.”
Profitability during the quarter improved due to price realisation and better product mix.
“The company's various expansion plans, including shifting of Pune plant to Aurangabad, are on the verge of completion. We have completed trial production of Aurangabad plant and it is expected to start operations soon. Our plant IV in Hyderabad has started commercial production and will contribute to business in the second half of this fiscal,” he said in a statement.
During the second quarter ended September 30, 2017, the company had posted a profit of Rs 3.3 crore and revenue of Rs 84 crore against a profit of Rs 1 crore and revenue of Rs 66.7 crore during the corresponding quarter last year.