Nitin Fire's Q1 net profit up 10.47 pc at Rs 20.77 cr

Nitin Fire Protection Industries today said its net profit during the June quarter increased by 10.47 per cent to Rs 20.77 crore as against Rs 18.80 crore in the same three months last year.
For the said quarter, the company's revenues increased by 18.56 per cent to Rs 337.90 crore as compared to Rs 285.01 crore in the same period a year ago, a statement issued here said.
During the quarter, the company received UL (Underwriters' Laboratory) approval for its emergency lights to be used into fire safety application. This approval now opens up a USD 250 million market opportunity for the company, it said.

Nitin Shah, chairman of the company, said, "With the government's current emphasis on the infrastructure sector and strong focus on fast tracking key projects, we are looking forward for a renewed spurt in our business and current order book size."
Nitin Fire Protection Industries is in the fire protection business providing solutions, including procurement, designing, system integration, commissioning and installation of fire protection safety solutions.