Shanthi Gears, a subsidiary of the Murugappa Group firm Tube Investments of India Ltd, has reported a 27 per cent increase in its net profit of ₹28.58 crore for the year ended March 31, 2018 against ₹22.51 crore in 2016-17. The turnover for the year was higher by 8 per cent at ₹219.55 crore against ₹203.82 crore in the previous year. The turnover for the current quarter is exclusive of GST, however, the turnover for the corresponding quarter in the previous year was inclusive of excise duty. On a like-to-like comparison the turnover grew by 9 per cent for the quarter and 16 per cent for the year, according to a statement. During the year, the company improved its order book position by booking orders for ₹237 crore (against ₹213 crore for the previous year), a growth of 11 per cent.
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