Shakti Pumps Q2 Fy 19 Profits up by 207% to Rs 9.27 crore, Revenue up by 104 % to Rs 139 cr
Shakti Pumps, a leading manufacturer of Energy Efficient stainless steel Pumps and Solar Energy Solutions in India with exports to over 100 countries, reported total revenue of Rs. 139 crore for the Q2 Fy 19 ended Sep 30, 2018 a 104% growth and Net Profit stands at Rs. 9.27 crore a 207% growth YOY.
Commenting on the results, Mr. Dinesh Patidar, Chairman & Managing Director, Shakti Pumps Limited said, “The results show that the company’s strategy is on course. “Going forward we will continue to focus on Solar Projects by MNRE, State Govts, KUSUSM and International Solar Alliance (ISA). Also looking to expand our export business by adding new new dealers/ distributors.
Recent announcements also indicates Govt’s intention making renewable energy a prime focus specially solar energy pumps. ISA assigned its 500000 Solar pumps project to EESL is a welcome step and will open the doors for Indian companies in international solar business. KUSUM Yojna (Kisan Urja suraksha evam Uthan Mahayojna) which target to convert 17.5 lakh diesel pumps in near terms and all 30 mn agriculture pumps with Solar Pumps in next 10 years. KUSUM is an ambitious long term Scheme focusing on Solar Pumps.