• Upside in revenue was largely due higher revenue from both transmission and metal forming segment. While transmission business segment register a growth of 24% to Rs 399.43 crore (or 80% of sales) that of metal forming was higher by 15% to Rs 98.85 crore (or 20% of sales).
• The PBIT jumped up by whopping 145% to Rs 75.40 crore with sharp jump in profit of transmission segment and turnaround in metal forming segment to profit. Facilitated by higher sales and 600 bps expansion in segment margin to 16.1%, the segment profit of transmission was up by 98% to Rs 64.34 crore. Similarly driven by higher sales and positive segment margin (against negative 2.1%) the metal forming segment registered a profit of Rs 11.06 crore compared to a loss of Rs 1.78 crore in corresponding previous period.

Nine month performance

Consolidated sales was lower by 6% to Rs 1109.91 crore and with OPM stand expanded by 200 bps to 14.8%, the operating profit was up by 8% to Rs 164.18 crore. However the PBT (before EO) was up by 16% to Rs 97.33 crore after accounting for higher depreciation, lower interest and higher OI. With EO income stand lower by 59% to Rs 5.15crore, the PBT after EO was up by 6% to Rs 102.48 crore. With taxation stand higher by 44% to Rs 27.66 crore, the PAT was down by 3% to Rs 74.82 crore. Eventually the net profit after MI was down by 4% to Rs 75.47 crore.

Segment profit of transmission was up by 34% to Rs 116.53 crore despite 1% fall in sales to Rs 901.49 crore was largely due to higher margin. But the metal forming segment registered a loss of Rs 4.94 crore (against a profit of Rs 6.82 crore in corresponding previous period) with its sales stand lower by sharp 24% to Rs 208.43 crore.