Skipper net profit up 19.4 percent

Kolkata, May 18 (IANS) India’s leading power transmission tower company, Skipper Ltd. on Wednesday reported a 19.4 percent rise in its net profit at Rs 36.12 crore in the quarter ended March 31.

During the review, net sales stood at Rs 523 crore, up by 4.7 percent from Rs 499 crore in the corresponding period last year.

The power transmission company’s operating EBITDA rose 6.9 percent at Rs 73.41 crore as against Rs 68.69 crore in the corresponding quarter the previous year.

The engineering products order book stood at Rs 2,429 crore at the end of the last fiscal. “In the fourth quarter of FY 16, the company has bagged orders in excess of Rs 1,200 crore and is targeting to enter newer geographies,” the company said in a statement.

It further said there were existing unopened bids worth over Rs 1,200 crore under submission for which results were awaited.

“We commissioned galvanizing plant and enhanced the manufacturing capacity of engineering products to 2 lakh mtpa to cater to the growing demands and opportunities in the sectors,” the company’s managing director Sajan Kumar Bansal said.

In the PVC piping business, during the year, the company commissioned three new manufacturing plants at Ahmedabad, Guwahati and Sikandrabad to almost triple its manufacturing size to 35,000 mtpa.

“Further, work is in full momentum for the new 6,000 mtpa PVC pipe manufacturing at Hyderabad and the company expects to get it commissioned by first quarter of the current fiscal,” it said.

In 2015-16, the company posted a net profit of Rs 95.13 crore, up 6.7 percent as compared to Rs 89.17 crore in 2014-15.

During the last fiscal, export revenues increased to Rs 656.11 crore as against Rs 54.63 crore in 2014-15.

“Export share in total revenue increased to 45 percent on back of company’s strategy to strengthen its business presence in the overseas markets,” the company said.

–IANS

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