Skipper Q2 net profit up 12 pc to Rs 37 crore

Kolkata, Nov 7 (PTI) Engineering and infrastructure company Skipper Ltd on Friday reported a 12.4 per cent rise in consolidated net profit to Rs 37.03 crore for the quarter ended September, compared with Rs 32.93 crore in the corresponding period a year ago.

Its revenue from operations grew 13.7 per cent year-on-year to Rs 1,261.79 crore in the reporting quarter, Skipper said in a regulatory filing.

Total income during July-September stood at Rs 1,265.86 crore, as against Rs 1,113.11 crore a year earlier.

During the quarter, the company settled a disputed entry-tax liability of Rs 10.68 crore under the West Bengal Sales Tax (Settlement of Dispute) Rules, 1999. The one-time exceptional item reduced profit after tax by about Rs 8 crore, it said.

The engineering products division remained the key revenue contributor with Rs 997.37 crore, an 18 per cent on-year increase, while the polymer products business contributed Rs 115.35 crore, but the infrastructure projects revenue eased to Rs 149.07 crore.

Basic earnings per share (EPS) for the quarter came in at Rs 3.28, up from Rs 3.13 in the year-earlier period.

As of September 30, Skipper’s total borrowings stood at Rs 770.18 crore, compared with Rs 735.66 crore in the corresponding period last year. PTI BSM RBT