Shakti Pumps Q4 Net up 99 pc at Rs 10 cr

Pumpsets manufacturer Shakti Pumps today reported 99 per cent increase in standalone net profit for the quarter ended March 31 at Rs 9.71 crore.
The profit stood at Rs 4.87 crore in the year-ago period.
Its revenues for the period under review stood at Rs 98.14 crore against Rs 51.48 crore in the corresponding quarter last fiscal, registering a growth of 90.6 per cent, a company statement said.
"The results are a vindication of our strategy of delivering quality and innovative products. They also mirror our strong focus on exports supplemented by a growing presence in the domestic market. All of this has translated into increased sales, net profits and operating margins," company's Chairman and Managing Director Dinesh Patidar said.

For the year FY14, the company's standalone net profit rose 43.7 per cent to Rs 26.51 crore against Rs 18.45 crore in the year-ago period, while the revenues stood at Rs 306.74 crore against Rs 216.89 crore in FY13.
"In the last one year, we have expanded our footprint into new geographies like Ecuador, Mexico, Argentina and Morocco. Going forward, Shakti Pumps has decided to expand its presence in the domestic market by tapping the fast growing industrial segment through its energy efficient pumps," he said.
The company currently exports its products to over 100 countries, the release said.
Patidar further said the strategical decision of appointing dealers who will exclusively sell its products, will help the company to serve farmers better.