Midhani Q2 turnover up 48% at Rs 170 crore

Hyderabad: Midhani (Mishra Dhatu Nigam Limited), on Friday said it has registered a growth of about 48 per cent with a net turnover of Rs 170.21 crore during the second quarter of FY 2019-20.

During the corresponding period of the previous year, the turnover stood at Rs 115.17 crore.

The mini-ratna Defence PSU said, this growth was able due to a healthy order booking particularly from the space sector along with stabilisation of 1,500T Forge press and other recent capital investments.

Meanwhile, Midhani said, the profit before tax (PBT) during the Q2, FY 2019-20 was Rs 51.98 crore, registering a growth of about 62 per cent, against Rs 32.11 crore recorded in the previous year.

Whereas the profit after tax (PAT) during the second quarter of FY 2019-20 was Rs 35.85 crore, registering a growth of about 75 per cent, against Rs 20.54 crore in the corresponding period of the previous year, it added.

Mentioning the result for the first half of FY 2019-20, the company said it has achieved a turnover of Rs 302.36 crore, a growth of 37 per cent, against the net turnover of Rs 221.18 crore recorded in the previous year.

The order book of Midhani as on October 1, 2019 stood at Rs 1,776 crore, the PSU said.