Chennai: Shanthi Gears Ltd (SGL), a subsidiary of Tube Investments of India Ltd, announced that turnover for the third quarter was higher by 14 per cent in comparison to the corresponding quarter of the previous year and at Rs 61.51 crore against Rs 53.95 crore in the same quarter of the previous year.
The net profit after tax for the quarter was 46 per cent higher at Rs 9.84 crore against Rs 6.74 crore in the same quarter of the previous year. The profit before tax for the quarter was Rs 12.35 crore against Rs 9.41 crore in the same quarter previous year, up by 31 per cent.
Higher profitability and lower capital employed enabled improvement in Return on average Capital Employed (ROCE) for the quarter to 24.4 per cent from 16.3 per cent. Cumulative free cash flow to PAT is 80 per cent before disbursement of one time special interim dividend of Rs 5 per share.
The company states that during the quarter it improved its orderbook position significantly by booking orders for Rs 74.2 crore (against Rs 56.5 crore for corresponding quarter of the previous year), a growth of 31 per cent.