Solar Industries's Q1FY15 consolidated net profit up by 54.64%
The company's total revenue Rs. 373.47 Cr compared to Rs 275.94 Cr of Q1FY14, which is up by 35.34%.
Its total EBIDTA Rs. 70.41 Cr compared to Rs 43.75 Cr of Q1FY14 up by 60.95%
It reported PAT at Rs. 39.68 Cr compared to Rs. 25.66 Cr of Q1FY14 up by 54.64%.
Commenting on the results, Manish Nuwal, Director, SolarIndustries India Ltd said “We are pleased with the performance reported by the company, despite the economic environment continuing to be challenging. All segments reported healthy growth, enabling the company to report a sizeable jump in operating profit. With the renewed thrust laid down by the new government to boost investments in the infrastructure and mining sector, we expect accelerated demand for explosives this year onwards."
"This should help the company leverage on the investments it has made in shoring up capacities recently. Our optimistic demand outlook also enthuses us to add capacities and we are on trackto add 3 bulk plants this year, to cater to the iron ore mining and construction sector, where we were not hitherto present. Our spend on defense capex should start also yielding results from this year onwards," he said.
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