Everest Industries today reported a 17 per cent increase in its net profit at Rs 11.9 crore for the March quarter.
"Everest Industries sales during the fourth quarter marked a 5.9 per cent growth at Rs 337.2 crore, up from Rs 318.4 crore a year earlier.
"Profit after tax (PAT) for Q4 2015-16 reported a 16.6 per cent growth to Rs 11.9 crore as against Rs 10.2 crore a year earlier," the company said in a statement.
Its consolidated revenue for the year closed at Rs 1,313 crore, registering a growth of 6.7 per cent compared with previous year, while net profit for 2015-16 rose to Rs 34.45 crore.
Everest's steel building business ended the quarter with a 14.2 per cent growth at Rs 120.6 crore compared with Rs 105.7 crore during the fourth quarter of the previous fiscal.
The steel building business revenue stood at Rs 483.3 crore for the 2015-16 fiscal, registering a growth of 33 per cent.
The building products business revenue of the company for the year stood at Rs 830 crore. The segment registered a sales of Rs 216.6 crore for the fourth quarter, up from Rs 212.8 crore during the same period in the previous year.
Everest offers complete range of building products and solutions in roofing, ceiling, wall, flooring and cladding as well as pre-engineered steel buildings.
But it was an Indian Radhanath Sikdar who found the true
height of the highest peak of the world in 1855, no wonder this illustrious surveyor's official designation was 'chief computer'. Ahem, so can we also credit the Survey of India for coining the phrase 'computer'?
No doubt, Sikdar was a human computer who achieved the impossible feat of measuring the exact height of the Mount Everest with visual and mechanical devices. Incidentally the first electronic computer made it into the civilisation only in 1936. To complete the history the first humans ascended Mount Everest only in 1953, almost a century after Sikdar the 'human computer' gave its true height.
For the last 162 years, the world has believed that the height of the Mount Everest is 8,848 metres above mean sea level. But now there are rumblings in the scientific community that height of Mount Everest may have changed for two reasons every year as the Himalayas rise by 5 mm every year.
This means the mountain would have risen by about one metre in the last 162 years, as a consequence of a geological quirk which makes the Indian plate go under the Asian plate and which keeps the Himalayas growing every year. In addition Rao says many people have raised doubts that the massive 7.8 magnitude 2015 earthquake that struck Nepal may have caused some widespread upheavals in the region.
So on SOI's 250th birthday, Rao seeks to send an Indo-Nepali mountaineering expedition to re-calibrate the exact height of the Mount Everest.
A 30-member team of mountaineers will be equipped with the most modern surveying equipment including digital global positioning system devices to come up with the correct estimate of the height of the Mount Everest. A sum of Rs 5 crore has been allocated and hopefully within this year the expedition will reach the summit.
Rao says one of the reasons of re-visiting the Mount Everest on SOI's birthday is to try and figure out the exact difference between heights estimated through satellites and through actual ground truthing.
Satellites tend to give erroneous figures asserts Rao.
The SOI, Mount Everest expedition will also make assessments of the changes in gravity one encounters as one ascends the mountain and simultaneously visual measurements will be made from several far off locations.
Rao says after 250 years, India's official map maker is opening its doors to understand a new India where maps and smartphones have today converged to make citizens more empowered and in this race to embrace a digital India, the map maker wants to reassert its supremacy by becoming less secretive and give up its image of being a dinosaur.
