Shanthi Gears net up 11% on higher income

Shanthi Gears Ltd. has reported a 11% rise in its standalone net profit for the first quarter ended June 2019 to ₹9.45 crore from the ₹8.50 crore posted in the corresponding quarter last year on a rise in total income.

The company posted a 13.56% increase in its total income to ₹73 crore.

Total expenses rose from ₹53 crore to ₹60 crore, the company said in a regulatory filing.

The company added it had bought back 50 lakh equity shares during February 2019 and they were extinguished by April 2019, according to its regulatory filing.