Swaraj Engines Q1 net revenue up 26%

Bolstered by sustained demand from key customer Mahindra & Mahindra, Swaraj Engines today reported a net revenue of Rs 84.9 crore for the quarter ended June 30, up 26 per cent compared to Rs 67.6 crore in the corresponding period of the last fiscal.

During the quarter, Swaraj Engines' dispatches to Mahindra & Mahindra totalled 11,428 engines, compared to 9,366 engines in the first quarter of the last fiscal, translating into a 22 per cent increase, a company statement issued here said.

Concurrently, supply of hi-tech components to Swaraj Mazda also grew by 15 per cent to touch Rs 5.2 crore.

The company's operating profit (earning before interest, depreciation and tax) for the first quarter (April-June, 2010) registered a growth of 21 per cent over the corresponding quarter last year and touched Rs 14.8 crore.

Profit Before Tax for the quarter was recorded at Rs 15.7 crore, as against Rs.14.7 crore in the same period last year.

Net profit for the quarter was Rs 10.7 crore, compared to last year's profit of Rs 9.7 crore in the same period.

The performance translated into an earning per share of Rs 8.61 vis-a-vis last year's EPS of Rs 7.82, it said.