Shanthi Gears second quarter net marginally up at Rs 7.16 cr

Shanthi Gears Ltd, a Murugappa Group company, has recorded a marginal increase in second quarter net profits ending September 30, 2017 at Rs 7.16 crore.
The Coimbatore-based company said in a BSE filing that it had registered net profits at Rs 6.73 crore during the corresponding period of last year.
For the six-month period ending September 30, 2017 net profits of the company went up to Rs 12.22 crore from Rs 11.62 crore registered during the year ago period.
Total income of the company for the July-September 2017 period grew to Rs 56.88 crore from Rs 53.92 crore registered during corresponding period of last year.

For the six-month period ending September 30, 2017, total income of the company surged to Rs 116.03 crore from Rs 102.83 crore registered during year ago period.
The company continued with focus on improving operational efficiencies and specific cost reduction initiatives. This helped in mitigating the rising costs and improving profitability, it said.

During the quarter ending September 30, 2017 the company's order book stood at Rs 58 crore as against Rs 45 crore registered during same period of last year.
The current order book size of the company is at Rs 98 crore, it said.
The turnover for the current quarter is exclusive of Goods and Service Tax, however, it was inclusive of excise duty during the corresponding quarter of previous year.

The company continues to remain focused on expanding customer base, enhancing its dealer and service network and improving production capabilities through investments in modern technologies, the release added.