Shanthi Gears reports Q2 net at Rs 7.90 crore

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Chennai: Manufacturers of gears and gear products Shanthi Gears Ltd has reported net profits of Rs 7.90 crore for the quarter ending September 30, 2021, the Tamil Nadu- based company said on Friday.

A part of the diversified conglomerate Murugappa Group, Shanthi Gears clocked net profits at Rs 6.63 crore in the corresponding quarter previous year.

For the six month period ending September 30, 2021, the net profits surged to Rs 16.48 crore from Rs 3.05 crore registered a year ago, a press release said.

The total income for the quarter under review grew to Rs 73.93 crore from Rs 55.42 crore in the same period last fiscal.

For the half year period ending September 30, 2021, the total income went up to Rs 143 crore from Rs 82.35 crore in the corresponding period a year ago.

In the release, the company said it continues to focus on revenue growth, profitability, return on invested capital and free cash flow.

The focus on cost optimisation and lower capital employed enabled to sustain the return on invested capital to 25 per cent during the quarter under review.

During the quarter ending September 30, 2021, the company booked orders for Rs 89 crore as against Rs 76 crore last year, the release said.

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