Hinduja Foundries plans investments worth 3.5 bln rupees

MUMBAI Tue May 6, 2008 6:25pm IST

Related Topics

Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

MUMBAI (Reuters) - Hinduja Foundries Ltd, which makes castings for automobiles, reported a marginal rise in Jan-March net profit, helped by a better product mix, and said it planned investments worth 3.5 billion rupees over the next two to three years.

The investment plans include creation of facilities to manufacture machined castings, the company said in a statement.

The company will be investing further in its research & development centre at Chennai during the year, and also in a new plant at Sriperumbudur to enhance capacity to 72,000 tonnes per annum from 2009/10.

Its Sriperumbudur foundry began commercial production of castings during the year.

For the Jan-March period, the company reported net profit of 70.2 million rupees on net sales of 1.3 billion rupees. It had posted a profit of 66.6 million rupees on net sales of 1.09 billion rupees for the same period last year.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Oil Imports

Oil Imports

India to make May-July oil payments to Iran - sources.  Full Article 

DLF Shares

DLF Shares

DLF slides 3 percent, underperforms rivals.  Full Article 

Global Economy

Global Economy

Chinese factories stalling as euro zone business picks up  Full Article 

Rupee Falls

Rupee Falls

Rupee falls for third day; foreign fund inflows key.  Full Article 

Record High

Record High

BSE Sensex hits record high for third straight day.  Full Article 

M&M Upgraded

M&M Upgraded

Credit Suisse upgrades Mahindra & Mahindra to 'outperform'  Full Article 

Breakingviews

Breakingviews

Manchester United’s crisis has silver lining  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage