Shanthi Gears Ltd., a subsidiary of Tube Investments of India Ltd., standalone net profit for the second quarter ended September has contracted by 20.7% to ₹6.63 crore from the year-earlier period following COVID-19-led disruptions in operations.
Total income of the gear and gear product manufacturer slipped by 23.86% to ₹55.42 crore, the firm said in a regulatory filing.
During the quarter, the company booked orders worth ₹76 crore against ₹61 crore. Pending order book as at September stood at ₹187 crore (₹145 crore).
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