India based GMM Pfaudler Ltd (GMMP) has reported a strong growth in sales as well as profits during second quarter of the current fiscal.

 

The company's sales grew 22% YoY and stood at Rs.188.26 crores during the period ended September 30, 2020 as compared to Rs.153.33 crores last year.

 

Net profit also rose by 29% YoY to reach Rs.26.85 crores for the period ended September 30, 2020 as against Rs.20.79 crores last year.

 

The company has approved a second interim dividend of Rs.1.00 per share of 14,617,500 equity shares of Rs. 2 each, aggregating to Rs.14,617,500 for the year 2020-21.

 

The board also fixed October 29, 2020 as the record date for the payment of interim dividend and payment of such dividend of Rs.1/- per equity share, on or before November 18, 2020.

 

Recently, the company has commissioned a new glass lined equipment manufacturing facility located at Nacharam Industrial Estate in Hyderabad signalling the long term commitment towards meeting the demands of ever-increasing customer base.