Sanghvi Movers Ltd. India’s leading crane hiring company, today announced its financial results for the first quarter ended 30th June 2010.
For the first quarter ending 30th June 2010 (Q1FY11), Net Sales is at Rs 85.29 crore as against Rs 81.63 crore for the corresponding quarter last year (Q1FY10), an increase of 4.49 percent. PAT for Q1FY11 is at Rs 24.02 crore as against Rs 23.10 crore for the corresponding quarter last year (Q1FY10), a 3.98 per cent increase. Earnings per Share (EPS) for Q1FY11 worked out to be Rs 5.55, as compared to Rs 5.34 for Q1FY10.
Capital Expenditure:
The company incurred a capital expenditure of Rs 80 crore for the quarter ended 30th June 2010.
Management Comment:
Mr. C.P. Sanghvi, Chairman and Managing Director, said “Keeping in line with the positive trends in the infrastructure sector due to government initiatives, we have already incurred an expenditure of Rs 80 crores in buying new as well as second hand cranes to cater to the increasing demand across sectors.”
About Sanghvi Movers Ltd.:
(BSE Code: 530073) (NSE Code: SANGHVIMOV)
Sanghvi Movers Limited (SML) (BSE: 530073; NSE: SANGHVMOV), the largest crane hiring and engineering company in India and 9th largest in the world, provides medium sized heavy duty world class cranes on rental basis for various infrastructure and core projects. The company has a fleet of more than 347 hydraulic and crawler cranes with lifting capacity ranging from 20 MT to 800 MT and a strong regional network with depots across Nagpur, Chennai, Pune, Bangalore, Bharuch, Jamnagar, Gadag, Cuttack and Delhi. SML’s client list includes Reliance Industries, Reliance Energy, Enercon, BHEL, NTPC, Lanco, Aditya Birla Group, Vedanta Group, Tata Steel, L&T and Suzlon.
