Suprajit net up 59 per cent

Suprajit Engineering Limited, the Bangalore-based auto components maker, today reported 59.2 per cent rise in its net profit at Rs 3.8 crore for the first quarter ended June 30, 2009 compared to the corresponding quarter last fiscal. The company’s operating profit for the quarter went up by 94.9 per cent to Rs 6.5 crore as against the same period a year ago.

The company, that manufactures a wide range of automotive cables for two-wheelers, cars and other industrial products, has shown a 14.2 per cent rise in its income from operations at Rs 47.3 crore for the quarter ended June compared to the corresponding quarter last fiscal.

 

Suprajit’s 100 per cent export oriented unit for non-automotive cables has commenced its commercial production and has generated profits in the first quarter of the current fiscal. Its new plant construction at Haridwar is under progress and production is expected to commence in the fourth quarter of the current year. The company proposes to implement a new plant at Sanand in Gujarat to produce cables for Tata Nano.