Shakti Pumps (India) reported a 19.83% jump in consolidated net profit of Rs 8.74 crore on 62.81% surge in net sales to Rs 254.48 crore in Q1 FY23 over Q1 FY22.
Profit before tax stood at Rs 11.74 crore in Q1 FY23, registering a growth of 81.02% from Rs 6.49 crore in Q1 FY22.
Total expenses spiked 61.37% to Rs 243.81 crore in Q1 FY23 over Q1 FY22. Cost of raw material consumed soared 65.92% to Rs 226.44 crore and employee benefit expenses grew 11.23% to Rs 13.46 crore recorded in Q1 FY23 compared with the corresponding quarter previous year.
Shakti Pumps (India) makes energy-efficient pumps and motors. With a leading position in solar pump markets in India, Shakti exports a wide range of pumping products to over 100 countries globally.
Shares of Shakti Pumps (India) were down 1.74% to Rs 515.40 on the BSE.
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