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Shakti Pumps (I) Ltd. registers PAT growth of 129%

Shakti Pumps (I) Ltd., leading manufacturer of 100% stainless steel submersible pumps in India with exports to over 100 countries, today reported total revenue of Rs. 85.23 crore for the quarter ended December 31, 2014 a 53.0% QoQ growth and Net Profit stands at Rs.7.64 crore registering a growth of 128.7% QoQ.

Commenting on the results, Mr. Dinesh Patidar, Chairman & Managing Director, Shakti Pumps Limited said, “Traditionally, we have always done well in the second and third quarter but this time we are especially pleased with our performance as it came in the face of a strong monsoon deficit in India.

The export performance has also been satisfactory given the uncertain global economic climate. Our plan to expand into new geographies and tap new markets is on track. We are also strengthening our brand further and have renewed the contract with Mr. Amitabh Bachchan as the brand ambassador this quarter.

The government initiatives like Swachh Bharat Abhiyan, Ganga Cleaning project, River connecting projects and initiative towards solar energy and energy efficiency will lead the sector with a positive growth.” said Mr. Dinesh Patidar, CMD of Shakti Pumps.