Coimbatore-based Shanthi Gears Ltd, a Murugappa Group company that producers a wide range of power transmission products including gears, gear boxes etc, has posted lower net sales and net profit in the quarter ending Sept this year compared to the same period last year.
In its filing with the stock exchanges, the company said that its income from operations on a standalone basis was Rs 36.77 crore in the quarter ending September 30, 2014, as against Rs 40.64 crore in the corresponding quarter in the previous fiscal. The net profit was down to Rs 2.27 crore as compared to Rs 6.73 crore in the same quarter last year. The EPS (share face value Re 1) was Re 0.28 (Re 0.82).
The stock was down by Rs 4.50 to Rs 117.45 on the BSE.