Suprajit Q3 net profit up at Rs 15.32 crore

Suprajit Engineering, India’s largest automotive cable maker, has posted a net profit of Rs 15.32 crore in the third quarter ended December 2015 on a standalone basis, up from Rs 12.06 crore reported in the corresponding period a year ago.

The company’s standalone sales for the same period increased to Rs 1,768 crore from Rs 1,556 crore while year-to-date profit rose to Rs 398.7 crore during the first three quarters of the current financial year as against Rs 338.2 crore in the same period the previous financial year.

While announcing the third quarter results, Suprajit said it commenced commercial production for one key customer at its new manufacturing facility at Sanand, Gujarat. The company also said the trials of equipment are underway at its new production facility in Sriperumbudur, near Chennai, and even limited trial production has commenced in the plant.
Suprajit has given a positive outlook saying, “The outlook for the current year appears satisfactory despite tepid overall market conditions. All acquisition-related activities, with regard to Phoenix, are complete and operations of this subsidiary have stabilized.”

The company’s year-to-date consolidated net profit including Phoenix Lamps ended December 2015 stood at Rs 54.72 crore, up from Rs 36.95 crore while its sales for the same period jumped to Rs 735.5 crore from Rs 496.6 crore.