Shanthi Gears has reported a 91.4 per cent jump in its net profit at Rs 3.67 crore for the fourth quarter ended March 31, 2014.
The Coimbatore-based Murugappa Group company had reported a net profit of Rs 1.92 crore for the same period last year, Shanthi Gears said in a BSE filing.
Total income of the company for the fourth quarter rose to Rs 38.18 crore as compared with Rs 37.06 crore in the same period last year.
For the year ended March 31, 2014, net profit of the company stood at Rs 18.38 crore as against Rs 15.47 crore reported in the previous fiscal.
For FY 2013-14, total income from operations grew to Rs 155.76 crore from Rs 146.53 crore registered in the previous year.
The company was able to establish its capabilities in design, manufacture and servicing of vertical rolling mill and planetary gear-boxes with key customers, it said.
The company also strengthened its position with overseas customers and all these initiatives resulted in the growth of top-line when the industry was in a downtrend, it said.
"With improving sentiment and improvement in liquidity aided by a good harvest and stabilising inflation it is expected that the growth in the industry will pick up in the coming quarters," the company said.
