AIA Engineering Q3 net dips 18.5 pct to Rs 93.35 cr

February 08, 2016 - 02:49:00 PM

AIA Engineering, an India-based company, on Monday reported a decline of 18.55 per cent in its consolidated net profit after taxes at Rs 93.35 crore for third quarter ended December 31, 2015. The company, a supplier of wear resistant and allied components for applications in cement, power, mining, aggregate manufacturing and other industry segments, had posted the consolidated net profit of Rs 115.04 crore in corresponding quarter of previous fiscal, said AIA Engineering in a filing to BSE. The consolidated total income of the company dipped 6.98 per cent to Rs 500.06 crore in Q3 FY16 from Rs 537.62 crore in Q3 FY15. During the quarter under review, the company started commercial production under first phase of the company's greenfield project at GIDC, Kerala in Gujarat. The installed capacity under the First Phase is 66,000 Mt per year. The Company has also completed its Brownfield expansion of 14,000 Mt per year at its Trichy Plant.Reacting to earnings, shares of company were trading at Rs 805.00 apiece, down 1.11 per cent, from previous close on BSE at 15: 00 hours.

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