Skipper, one of the world’s leading manufacturers of power transmission and distribution structures, reported a 99.51 per cent year-on-year jump in its consolidated net profit to ₹32.42 crore for the first quarter of this fiscal year.
The Kolkata-based company had posted a net profit of ₹16.25 crore for the first quarter last fiscal.
In a stock exchange filing, the company said its revenue from operations for Q1FY25 grew 96.85 per cent year over year to ₹1,091.74 crore from ₹554.58 crore for Q1FY24, on the back of strong execution in the engineering and Infra segments. Exports revenue almost doubled during the quarter under review, reaching ₹251 crore from ₹127.4 crore in the same quarter last fiscal year.
Sharan Bansal, Director, Skipper, said the company’s consistent performance across major business segments and some aggressive sales initiatives enabled it to maintain impressive order booking numbers.
“T&D Domestic ordering displays promising signs of rebound, while our unwavering momentum in the international market remains a driving force,” Bansal added.
The company scrip ended the day at ₹403.75 apiece on BSE, up 9.20 percent from the previous close.
Skipper’s board approved the appointment of Sajan Kumar Bansal, Managing Director, as the company’s Chairman as well with effect from September 23, 2024. Amit Kiran Deb, Chairman of the company, will complete his second term as an independent director on September 22.