Skipper Q3 net profit grows 9.61% to Rs 18.70 crore

Kolkata-based Skipper today reported a 9.61 per cent increase in net profit at Rs 18.70 crore for the quarter ended December 31 on the back of fall in commodity prices.
The company had reported a net profit of Rs 17.06 crore in the corresponding quarter last fiscal.
Its total income for the quarter under review increased to Rs 361.57 crore from Rs 322.68 crore a year-ago registering a growth of 12.05 per cent.
"The muted growth in sales is a result of decline in commodity prices. Our volumes for the quarter have, however, grown 20 per cent while in terms of value it grew just 10 per cent," Skipper Director Devesh Bansal told PTI here.

Skipper is engaged in manufacturing of power transmission and distribution structures as well as PVC pipes.
The company's PVC business has been registering almost 100 per cent growth and has already captured a significant share of the Eastern India market.

After the Ahmedabad plant launch in Q1 FY16, the company commissioned a manufacturing plant in Guwahati in December 2015 with a manufacturing capacity to produce 4,000 MTPA.
The company's current T&D products order book position stands at around Rs 2,400 crore as on March 2015. International orders make up about 45 per cent of it while the rest are domestic orders.

The company's rightful prerogative of strengthening its business presence in overseas markets, namely in Africa, Europe, North America and Latin America region, has resulted in healthy growth in both top line and bottom line.
For this fiscal, the company has export orders of about Rs 1,150 crore worth and is targeting to enter newer geographies.
In a separate BSE filing, the company said that it proposes to commence production of PVC products at its new unit in Sikandrabad, Uttar Pradesh from tomorrow.
This is the company's fourth manufacturing unit for PVC products after Kolkata, Ahmedabad and Assam, taking the company's combined installed capacity for PVC products to 35,000 million tonnes.