AIA Engineering : AIA Engineering disclosed a small decline in its standalone net profit for the third quarter ended December 2008. During the quarter, the profit of the company declined 8.01% to Rs. 29.12 crore or Rs 291.29 million from Rs. 31.67 crore or Rs 316.67 million in the same quarter, previous year.

Net sales for the quarter jumped 68.48% to Rs. 281.40 crore or Rs 2,814.01 million, while total income for the quarter jumped 63.15% to Rs. 283.87 crore or Rs 2,838.73 million, when compared with the prior year period.

On consolidated basis, company net sales were at Rs 272.92 crore versus Rs 188.85 crore on YoY basis.

Its consolidated net profit was at Rs 46.86 crore versus Rs 40.51 crore on YoY basis.

The company posted earnings of Rs 3.10 a share during the quarter, registering 81.60% decline over previous year period.

 

During the quarter, interest cost increased 7.12 times to Rs 1.21 million while depreciation cost rose 25.90% to Rs 29.17 million over previous year period.

AIA Engineering specializes in design, development, manufacture, installation and servicing of high-chromium wear, corrosion and abrasion resistant parts used in cement, mining and thermal power generation industries.

 

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