Bolstered by sustained demand from key customer Mahindra & Mahindra, Swaraj Engines reported a net revenue of INR 84.9 crore for the quarter ended June 30 up by 26% as compared to INR 67.6 crore in the corresponding period of the last fiscal.

During the quarter Swaraj Engines dispatches to Mahindra & Mahindra totalled 11,428 engines compared to 9,366 engines in the Q1 of the last fiscal translating into a 22 % increase. Concurrently supply of hi tech components to Swaraj Mazda also grew by 15 % to touch INR 5.2 crore.

The company's operating profit earning before interest, depreciation and tax for the Q1 registered a growth of 21 % over the corresponding quarter last year and touched INR 14.8 crore.

Profit before tax for the quarter was recorded at INR 15.7 crore as against INR 14.7 crore in the same period last year.

The report said that net profit for the quarter was INR 10.7 crore compared to last year's profit of INR 9.7 crore in the same period.

(Sourced from Business Standard)