Shanthi Gears income, profit slip

Coimbatore-based gear and gear products manufacturer Shanthi Gears Ltd, which has been taken over by the Chennai-based Murugappa Group, has witnessed a marginal decline in net income and profit in the second quarter of the current year compared to the same period in the previous fiscal. The income from operations was Rs 39.56 crore compared with Rs 42.71 crore in the same quarter last year. The net profit slipped to Rs 5.72 crore in the September ended quarter (Rs 7.12 crore). The EPS (share price Re 1) was Re 0.70 (Rs 0.87). The Shanthi Gears counter witnessed a huge trading volume of 1.50 lakh shares in the NSE. The stock closed at Rs 73.25.