Shakti Pumps Profit Soars 200% in Dec Quarter

New Delhi, Jan 30 (PTI) Water pump company Shakti Pumps on Thursday posted an over two-fold jump in consolidated profit after tax to Rs 104 crore in the December quarter, on account of higher revenues.

It had clocked a profit after tax (PAT) of Rs 45.20 crore during the October-December period of 2023-24, the company said in a statement.

The company's revenue from operations rose by 30.9 per cent to Rs 648.8 crore from Rs 495.6 crore in the year-ago period.

During the nine-month period ending December 2024, Shakti Pump's PAT reported a multi-fold rise to Rs 298.1 crore against Rs 52.1 crore in April-December 2023.

Its revenues in April-December stood at Rs 1,850.9 crore, more than double over Rs 761.5 crore in 9MFY24.

Its Chairman Dinesh Patidar said the company has delivered strong financial performance led by increased execution of orders and operational efficiencies, which also resulted in significant margin expansion.

The order inflow continued to gain momentum, resulting in a robust outstanding order book position of around Rs 2,070 crore as on December 31, 2024, which is to be executed within a year, he said.

During the quarter, the company received “a Letter of Empanelment of 25,000 pumps amounting to Rs 754.3 crore under the Magel Tyala Saur Krushi Pump Scheme in Maharashtra and an order of 3,174 pumps from Haryana Renewable Energy Department (HAREDA) amounting to Rs 116.3 crore," the chairman said.

"In the EV (electric vehicle) space, we are progressing with pilot orders from OEMs (original equipment manufacturers), and this could unlock a significant opportunity for us in the future. Our export business has also delivered a strong performance, as it grew by 58 per cent YoY to Rs 311.9 crore in 9MFY25," Patidar said.

Shakti Pumps manufactures solar pumps, energy-efficient stainless-steel submersible pumps, pressure booster pumps, pump motors and other products.

The company has two manufacturing facilities with a combined capacity of 500,000 pumps per year in India.