The Hi-Tech Gears Limited Reports Audited Standalone Earnings Results for the Fourth Quarter and Year and Consolidated Earnings Results for the Year Ended March 31, 2018
May 21, 2018 at 09:41 am EDT
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The Hi-Tech Gears Limited reported audited standalone earnings results for the fourth quarter and year and consolidated earnings results for the year ended March 31, 2018. For the quarter, on standalone basis, the company reported revenue from operations of INR 1,399.982 million against INR 1,206.228 million a year ago. Profit before exceptional items and tax was INR 130.218 million against INR 91.982 million a year ago. Profit before tax from ordinary activities was INR 130.218 million against INR 91.982 million a year ago. Profit for the period was INR 82.249 million against INR 53.998 million a year ago. Basic and diluted earnings per share were INR 4.38 against INR 2.88 a year ago.
For the year, on standalone basis, the company reported revenue from operations of INR 5,247.193 million against INR 4,816.493 million a year ago. Profit before exceptional items and tax was INR 483.874 million against INR 325.794 million a year ago. Profit before tax from ordinary activities was INR 483.874 million against INR 325.794 million a year ago. Profit for the period was INR 319.124 million against INR 208.757 million a year ago. Basic and diluted earnings per share were INR 17.00 against INR 11.12 a year ago.
For the year, on consolidated basis, the company reported revenue from operations of INR 7,442.928 million against INR 5,044.667 million a year ago. Profit before exceptional items and tax was INR 515.182 million against INR 325.781 million a year ago. Profit before tax from ordinary activities was INR 515.182 million against INR 325.781 million a year ago. Profit for the period was INR 342.434 million against INR 201.393 million a year ago. Basic and diluted earnings per share were INR 18.25 against INR 10.73 a year ago.
The Hi-Tech Gears Limited is an India-based auto component manufacturer. The Company is engaged in the manufacturing of gears and transmission. Its products include transmission and engine components, driveline components, engine design services and advanced technology-enabled products and solutions in the field of robotics, artificial intelligence, vision and embedded systems. It primarily serves to global automobile manufacturers and tier-1 and tier-2 suppliers. It offers a variety of components, such as forged lug gears, drive/driven spur, and helical gears, straight and involute special ratchets, kick spindle, and crank. The Companyâs applications include marine, construction, defense, emergency vehicle, mining, agriculture, power generation, and many other stationery equipment. It manufactures variety of components in different shapes and sizes finding their application in different assemblies and vehicles. Its subsidiaries include 2545887 Ontario Inc., Neo-Tech Auto Systemz Inc.
The Hi-Tech Gears Limited Reports Audited Standalone Earnings Results for the Fourth Quarter and Year and Consolidated Earnings Results for the Year Ended March 31, 2018