Marginal rise in Shanthi Gears net

Shanthi Gears, a subsidiary of Tube investments, posted a marginal increase in first quarter net profit at Rs 3.37 crore, from Rs 3.59 crore in the previous corresponding quarter. The turnover for the quarter was up at Rs 33.19 crore against Rs. 31.22 crore in the same quarter last year. During the quarter, the company built its order book by Rs 41 crore despite depressed market conditions, said a company release. Orders from export markets were higher. The quarter saw the launch of the first high-end vertical rolling mill gearbox. The company’s current order book is at Rs 75 crore.