Texmaco net up 101% at Rs 22.8 cr

Texmaco Ltd, a K K Birla Group engineering company, recorded 101 per cent rise in net profit during the first quarter of the current fiscal at Rs 22.82 crore, compared to the same period last year, on the back of its heavy engineering division. Sales grew by 46 per cent on a year-on-year basis to Rs 280.43 crore.

The heavy engineering division clocked a 40 per cent growth in revenues to Rs 196.22 crore while its profits were up 113 per cent. The current order book of the company is over Rs 2,000 crore and it is banking on the demand for wagons from the Indian Railways.