Profit statements

Net profit jumps 29.72% to 12.22 cr, revenue up

Shanthi Gears Ltd reported a 29.72% increase in profit for the quarter ending March 31, 2022 to Rs 12.22 crore, the company announced on Sunday.

The Tamil Nadu-based company and a group company of the diversified conglomerate Murugappa Group had recorded net profits of Rs 9.42 crore in the corresponding period last year.

For the year ending March 31, 2022, the net total increased by 110.5%, to Rs 42.47 crore, from Rs 20.17 crore recorded a year ago. Total revenue for the quarter under review rose to Rs 105.92 crore from Rs 74.74 crore recorded in the corresponding quarter of the previous year.

For the year ending March 31, 2022, the company’s total revenue rose to Rs 346.12 crore from Rs 223.81 crore recorded last fiscal year.

The company, a subsidiary of Tube Investments of India Ltd, said in a statement that it continues to focus on revenue growth, profitability, return on invested capital (ROIC) and free cash flow.

During the year, the company recorded revenue of Rs 337.1 crore while for the quarter ending March 31, 2022, it was Rs 103.6 crore. Return on invested capital improved to 36% this year from 15% the previous year.

The company said it generated free cash flow of Rs 34.1 crore during the financial year. Shanthi Gears in FY22 received orders worth Rs 386 crore, according to the release.

(With PTI inputs)

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Posted: Sunday, May 8, 2022, 6:00 PM IST