Action Construction Equipment Ltd. Reports Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017; Announces Earnings Guidance for 2018
January 25, 2018 at 01:50 pm IST
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Action Construction Equipment Ltd. reported unaudited standalone earnings results for the third quarter and nine months ended December 31, 2017. For the quarter, the company reported revenue from operations of INR 2,790.746 million against INR 1,979.898 million for the same period last year. Profit from operations before exceptional items and tax was INR 224.054 million against INR 61.457 million for the same period last year. Profit before tax was INR 224.054 million against INR 61.457 million for the same period last year. Net profit for the period from operations was INR 164.125 million or INR 1.40 per basic and diluted share (not annualized) against INR 48.76 million or INR 0.42 per basic and diluted share (not annualized) for the same period last year.
For the nine months, the company reported revenue from operations of INR 7,311.863 million against INR 5,522.783 million for the same period last year. Profit from operations before exceptional items and tax was INR 401.551 million against INR 158.431 million for the same period last year. Profit before tax was INR 401.551 million against INR 158.431 million for the same period last year. Net profit for the period from operations was INR 311.782 million or INR 2.66 per basic and diluted share (not annualized) against INR 123.617 million or INR 1.05 per basic and diluted share (not annualized) for the same period last year.
For the year 2018, the company expects exceeding the already upwardly revised 25 % growth target set and is now looking at least 35% to 40 % growth in fiscal year 2018 itself.
Action Construction Equipment Limited is an India-based material handling and construction equipment manufacturing company offering technology products with a market share in mobile cranes and tower cranes segment. Its segments include Cranes, Construction Equipment, Material Handling and Agriculture Equipment. Its equipment includes mobile cranes, truck mounted cranes, crawler cranes, rough terrain hydraulic mobile cranes, forklift trucks, mobile tower cranes, tower cranes, concrete placing boom, piling rigs, backhoe loaders, road equipment, vibratory rollers, loaders, warehousing equipment, tractors and agri equipment. Its mobile cranes include pick and carry cranes, and NextGen pick and carry cranes. Its truck mounted cranes include TM series and lorry loader cranes. Its agri equipment includes harvester combine, rotavator and baler. Its rough terrain hydraulic mobile cranes include 20XW-RT, 40XW and 75XW. Its forklift trucks include diesel forklifts and electric forklifts.
Action Construction Equipment Ltd. Reports Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017; Announces Earnings Guidance for 2018