Shanthi Gears has reported a 37 per cent increase in net profit for the third quarter ended December 2015 compared to the corresponding quarter of the previous fiscal.
Net profit for the December quarter increased 37 per cent to Rs 5.15 cr (Rs 3.76 cr).
Efficiency improvements, product mix and cost reduction initiatives have helped enhance the performance during the third quarter of the current fiscal, the company admitted in a release.
Its net income from operations for the quarter grew albeit marginally to Rs 42.69 cr against Rs 42.46 cr in the same quarter of the earlier year.
The order book of Shanthi Gears, a subsidiary of Chennai-based Tube Investments of India Ltd - a Murugappa group company stood at Rs 74 cr.
The board has declared an interim dividend of Re 0.50 per share of Re 1/ each for 2015-16.
Going forward, the company plans to grow its customer base, enhance product offerings, reduce cost and improve execution capabilities.