Comments
Reflecting the slowdown in the economy, Shanthi Gears Ltd has witnessed a pile-up of Rs 10 crore worth of goods awaiting customer clearance. The company, which was acquired by the Murugappa Group company Tube Investments of India Ltd, had recorded a sharp decline in net sales and net profit in the first quarter of the current fiscal. The net sales fell to Rs 31.40 crore compared with Rs 40.22 crore in the corresponding quarter last year. The net profit was down to Rs 3.58 crore compared with Rs 7 crore.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.