Surya Roshni net profit up 19% to Rs 14 crore in Q1

MUMBAI: Surya Roshni, manufacturer of lighting products and steel pipes, today said its net profit for the first quarter ended June 30 grew by 19 per cent to Rs 14.19 crore from Rs 11.90 crore in the same period a year ago.

Gross sales stood at of Rs 760 crore in Q1, up 12.96 per cent from Rs 672.78 crore clocked in Q1 FY13, a company statment said here.

EBIDTA (earnings before interest, taxes, depreciation and amortisation) stood at Rs 54.28 crore as against Rs 48.55 crore in the corresponding year ended June 2012. Sales of steel division rose by 9.06 per cent to Rs. 494.50 crore from Rs 453.43 crore in the corresponding period last year.

Sales of lighting division shot up by 21 per cent to Rs 265.50 crore as against Rs. 219.35 crore in the quarter ended June 2012.

Commenting on the result, B Raju, Managing Director, Surya Roshni, said, "The performance of the company is as per expected plans. The performance of lighting division continues to be robust. The higher sales have partly been accounted by new products like LED & new lighting systems, geographical expansion and exports."

"In the steel division, we have introduced a new range of steel pipes which are well received by the customers. We look forward to continuing strong performance in quarters ahead," he added.