Swaraj Engines Q3 net profit jumps 28%

Swaraj Engines today reported a 27.73 per cent increase in its net profit for the quarter ended December 31, 2010, at Rs 11.33 crore on the back of record sales in the period.

The company had posted a net profit of Rs 8.87 crore in the corresponding period previous fiscal, Swaraj Engines said in a filing to the Bombay Stock Exchange (BSE).

The total operating income also soared by 34.81 per cent to Rs 92.60 crore from Rs 68.69 crore in the year-ago period, it added.

The company declared the provisional results today.

"Riding on improved demand from its key customer -- Swaraj Division of Mahindra & Mahindra, its engine sales volume for the quarter witnessed a jump of 28 per cent over the corresponding quarter of previous year," the company said.

The engine maker sold a total of 12,294 units during the three-month period, which is the "highest ever quarterly sales volume", it added.

Shares of the company today closed 3.52 per cent down at Rs 436.25 a piece on the BSE.