Titagarh Wagons Ltd (TWL) has reported a marginal rise in net profit during the third quarter (October-December) at Rs 15.88 crore against Rs 15.46 crore, recorded in the corresponding quarter of the previous fiscal.
But the net sales for the quarter registered a drop at Rs 127 crore (Rs 136 crore). The net profit in the first nine months (April-December) stood at Rs 54.10 crore (Rs 39.43 crore) and net sales were up 17 per cent at Rs 438 crore.
The 9-month EPS at Rs 28.57 still showed a year-on-year growth of 36 per cent.
Mr J P Chowdhary, Executive Chairman, said the performance of TWL during the quarter and nine months in this financial year was “satisfactory” in the backdrop of delayed orders from the principal buyers of the wagons.
The orders for 2009-10 were released by the Railways in the last week of second quarter.
“The demand from private sector continues to be very low owing to withdrawal of Wagon Investment Scheme”, he added.