Shakti Pumps Q2 Profit Soars to Rs 101 Cr - Business News

New Delhi, Oct 28 (PTI) Shakti Pumps (India) Ltd (SPIL) has reported a multifold jump in consolidated profit after tax in the quarter ended September to Rs 101.4 crore, on account of a surge in revenues.

It had posted Rs 6 crore profit after tax (PAT) in the July-September quarter of the preceding 2023-24 fiscal, the company said in statement issued on Monday.

During the second quarter, the company's revenue from operations also rose four-fold to Rs 634.6 crore, from Rs 152.8 crore a year ago.

In April-September, the PAT was at Rs 194.1 crore, up from Rs 6.9 crore in the first half of the last financial year.

While revenues rose to Rs 1,202.2 crore in the first half from Rs 265.8 crore in the six month period of FY24.

The company had an outstanding order book of around Rs 1,800 crore as on September 30, 2024.

"We announce another exceptional quarter for our company, showcasing significant revenue expansion and a marked increase in profitability.

"These achievements are a direct result of faster execution of orders within both the domestic and international spheres. Profitability margins also witnessed a significant expansion," Shakti Pumps (India) Ltd Chairman Dinesh Patidar said.

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

The company owns and operates two manufacturing facilities with a combined capacity of 5,00,000 pumps and motors per year.