The standalone net profit of Shanthi Gears Ltd., (SGL) a subsidiary of Tube Investments of India Ltd. (TII), for the second quarter ended September 2019 fell to ₹8.36 crore from the ₹9 crore registered during the corresponding period last year due to an increase in material cost.
The gear and gear-product maker reported a 12.77% increase in its revenue from operations to ₹70.9 crore.
The company made good strides in the replacement market. Growth-led strategies of enhancing efficiencies, exploring new markets and enlarging customer base has helped the company to remain focussed on a path to steady growth, said the company in a regulatory filing.
During the quarter, the company booked orders worth ₹61 crore against ₹72 crore in the corresponding quarter of the previous year.
As of September 30, the company had pending order book of ₹145 crore against ₹149 crore in the previous year.
