Skipper Q2FY’24 profit sees multi-fold rise to Rs 19.7 cr

Kolkata, Nov 8 (PTI) Skipper Ltd on Wednesday reported a multi-fold jump in consolidated net profit at Rs 19.7 crore for the second quarter ended September 2023, on the back of benign input cost and operational efficiency.

The Kolkata-based Power T&D, telecom, and railway structures maker had reported a Rs 3 crore profit during the same period last year

Revenue during the quarter was Rs 772 crore, up 67 per cent over the corresponding period’s sales of Rs 462 crore.

Skipper, also in polymer pipes & fittings, said its Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin during the quarter has improved to 9.5 per cent from 8.6 per cent.

“We foresee a robust bidding pipeline in India, projected up to the year 2030, which stems from the ambitious 500 GW renewable energy integration plan. This expansion not only signifies a monumental leap in renewable energy but also opens doors to a host of other business opportunities for Skipper,” director Sharan Bansal said.

Skipper is well poised for success with a five-year international bidding pipeline, fueled by the substantial increase in global T&D spending from USD 274 billion per year to an impressive USD 500 billion per year by 2030,” he said.