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Shanthi Gears, a subsidiary of the Murugappa Group firm Tube Investments of India Ltd, has reported a net profit of ₹ 4.89 crore for the quarter ended June 30, 2016, against ₹1.61 crore in the year-ago period, on the back of improved in operating performance.
Profit from operations before other income and finance costs stood at ₹4.14 crore against ₹20 lakh.
Total income for the quarter was ₹ 46.42 crore against ₹41.67 crore in the same quarter last year.
During the quarter, the company built its order book by ₹50 crore and its current total order size is ₹111 crore.
It is planning to invest in modern technology equipment to enhance its capability to service high precision- heavy duty gearboxes.
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