ISGEC Heavy Engineering Ltd has posted a strong jump in net profits by 70% YoY achieving Rs.76.96 crores in second quarter of current fiscal. The company's profit was Rs.45.13 crores in the same period last year.

 

However the company's Q2 sales dropped marginally by 5.83% YoY and reached Rs.1351.60 crores during the period ended September 30, 2020 as compared to Rs.1435.23 crores during the period ended September 30, 2019.

 

The company has reported EPS of Rs.10.47 for the period ended September 30, 2020 as compared to Rs.6.14 for the period ended September 30, 2019.

 

In H2, the company has reported total income dropped 8% YoY and stood at Rs.2426.45 crores versus Rs.2639.17 crores in the same period last year.

 

Further the company's net profit jumped by 61% YoY in H2 and reached Rs.118.18 crores as against Rs.73.41 crores last year.

 

Isgec recently has won an order for setting up a 11.5 MW waste to energy plant for Karnataka Power Corporation Limited (KPCL) to be set up in Bidadi, an industrial hub located 32 km from Bengaluru. Total order value is Rs. 260 crore and projected completion schedule is around two years.