By IANS,
Mumbai : India’s leading water management solutions provider Kirloskar Brothers Ltd (KBL), has for the first time clocked a turnover exceeding Rs.15 billion ($375 million) in 2007-08, a 15 percent growth over previous fiscal.
The total turnover of KBL touched Rs.15.25 billion against Rs.13.4 billion in 2006-07, the company said in a statement Tuesday.
However, the company’s profit came down to Rs.1.50 billion this year from previous year’s figure of Rs.3.75 billion.
KBL’s consolidated net sales touched Rs.20.58 billion, showing an increase of Rs.2.67 billion from the last year’s figure of Rs.17.81 billion.
The company has a robust order book of over Rs.40 billion for the current fiscal, the statement added.
In the last quarter of the fiscal (January-March), KBL recorded net sales of Rs.5.69 billion as compared to Rs.4.49 billion in the corresponding period of 2006-07, posting a profit before tax of Rs.740 million.
KBL chairman and managing director Sanjay Kirloskar said: “Power and water are the two segments which are going to drive the global pump market, and KBL is already there in the big league having reached the top 15 pump companies in the world.”
The company added that it successfully commissioned the world’s second highest lift irrigation Rs. 1.24-billion project of pumping systems for J. Chokka Rao Devadulla Scheme in Andhra Pradesh to lift and deliver Godavari water to the Telangana region.
Last year, KBL also commissioned another pumping scheme on Saurashtra branch canal of Sardar Sarovar project in Gujarat to take water to millions with 8.5 MW power saving, which now results in annual saving of almost 35 million units of electricity per year for the state.