india

Shanthi Gears back in black, nets ₹8.58 cr.

Shanthi Gears Ltd. (SGL), a Murugappa group firm, has returned to the black with a standalone net profit of ₹8.58 crore for the first quarter, compared with a loss of ₹3.58 crore.

Revenue from operations more than doubled to ₹67 crore, despite disruptions in operations due to the second wave of the pandemic. SGL booked orders for ₹84 crore and the pending order book stood at ₹235 crore against ₹164 crore. The State government had enforced a total lockdown from May 10.

Consequently, there was a disruption in operations due to shortage of manpower and non-receipt of raw materials during the period, SGL said in a filing.

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