Subros Q2 FY 07 net zooms 93 pc

New Delhi, Oct 31 (UNI) Leading auto air conditioning manufacturing company Subros Ltd today reported a 93 per cent jump in its net profit at Rs 7.80 crore for the second quarter ended September 30, 2006, as against Rs 4.05 crore during the corresponding period last year.

The company was registered a 26.8 per cent hike in net sales turnover to Rs 165.83 crore in the quarter from Rs 130.82 crore in the same quarter a year ago.

Commenting on the results, company CMD Ramesh Suri said that continued focus on strengthening the indigenisation strategies to reduce material cost had resulted in the higher net profit during the quarter.

During the quarter, it sold 1,25,756 AC systems as compared to 89,190 units Q2 FY 06, registering a growth of 41 per cent.

The company has revised its projections upward for the remaining six months of the year 2006-07 and hopes to maintain the same growth rate in the next quarters.

The net profit of the company in the first half of the year ended September 2006 stood at Rs 13.75 crore as against Rs 8.62 crore in H1 FY 07, up by 60 per cent.

The sales turnover of the first half year was at Rs 307.40 crore against Rs 263.15 crore during the same period last year.

UNI CS MS HT1245