Solar pumps maker Shakti Pumps (India) on Saturday posted around 23% growth in profit to Rs 110.23 crore in the March quarter, driven by higher income. It had reported Rs 89.67 crore profit in the January-March period of the 2023-24 fiscal year, the company said in an exchange filing.
The company's total income rose to Rs 669.76 crore from Rs 610.13 crore in the fourth quarter a year ago.
The company's Chairman Dinesh Patidar said, "We reported our highest-ever revenue of Rs 25,162 million (Rs 2,516.2 crore) in fiscal 20225, which surged by 83.6% YoY, while PAT grew exceptionally by 188.2% to Rs 4,084 million (Rs 408.4 crore)."
"This impressive topline growth was driven by strong performances in both our domestic and export businesses, with profitability and margins further bolstered by our unwavering focus on operational efficiencies." "Our strong position in regions such as the US, Africa, Asia, and the Middle East ensures that this business remains stable and sustainable," he said.
"We are confident that our strong presence and market share in these states will enable us to secure significant new orders," Patidar said.
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