New Delhi: Manufacturer and exporter of industrial explosives and initiating systems, Solar Industries India Ltd (SIIL), on Thursday reported a 16.28% jump in net profit during Apr-June 2017 quarter.
The company’s net profit jumped by 16.28% to 54.78 crore during Apr-June 2017 quarter as compared to Rs 47.11 crore of the corresponding quarter last financial year, the company said.
Net sales during Q1FY18 grew 15.79% to Rs 466.65 crore as compared to Rs 403.02 crore for the same quarter last year. EBITDA for the quarter rose 15% to Rs 103.46 crore compared to Rs 89.96 crore for Q1FY17. The EBIDTA margin for the current quarter is 22.17%.
Mr Manish Nuwal, Managing Director & CEO, Solar Industries India Ltd, has expressed satisfaction over the quarterly performance. “Sales from international markets has been instrumental in growth for this quarter and its in-line with the target of achieving three-fold increase in international sales by 2020”.
Mr Nuwal further added, “Expected demand did not come from mining and housing sector resulting in lower growth in Indian market, But we hope the same will pick up from 3rd Quarter.”
