Solar Industries Q3 net up 13.83% at Rs 54.15 cr

Industrial explosives manufacturer Solar Industries today reported a 13.83 per cent increase in Rs 54.15 crore for the quarter ended December 31 as against Rs 47.57 crore in the corresponding quarter last year.
The company's total income for the quarter increased 10.48 per cent to Rs 465.68 crore from Rs 421.51 crore in Q3.
"With the government's increased focus on mining, infrastructure, housing, defence and international business, we see a positive outlook on our business. The commercial rollover of defence products are delayed, but we are very positive to see them rolling from April this year and achieving our targets by 2020," company's managing director and CEO Manish Nuwal said in a statement here.

During the quarter, the company bagged the contract for mass production of a crucial solid propellant booster of Brahmos.
"Recently, we have received Transfer of Technology (ToT) for mass production of a crucial solid propellant booster of Brahmos. The demand for the booster is expected to be high, as Indian Air-force will induct more missiles on its fighter jets in the near future which will help us," he added.
The company's total order book now stands at Rs 1,306 crore including Rs 161 crore of the defence business.