TII subsidiary Shanthi Gears Q1 PAT up 68%

Chennai: Shanthi Gears Ltd (SGL), a subsidiary of Tube Investments of India (TII) has announced its Q1 results for FY19 and stated that the turnover for the quarter was higher by 10 per cent in comparison to the same quarter of the previous year at Rs 61.95 crore against Rs 56.49 crore.

The net Profit After Tax (PAT) for the year was 68 per cent higher at Rs 8.50 crore against Rs 5.06 crore.

The turnover for the current quarter is exclusive of GST, however the turnover for the corresponding quarter in the previous year was inclusive of excise duty.

On a like to like comparison the turnover grew by 21 per cent for the quarter. The Profit Before Tax (PBT) for the quarter was Rs 11.03 crores against Rs 6.88 crore in the same quarter last year, up by 60 per cent.