Ingersoll-Rand (India), a part of the Ingersoll Rand Company and of the major air solution provider to industrial and infrastructure segment registered 81% jump in its earnings for the quarter ended Dec 2011 to Rs 27.79 crore. Strong jump in bottom-line for the quarter was facilitated together by higher sales (up 20% to Rs 186.99 crore) and 700 bps expansion in operating margin to 15%.
Nine month performance
Sales were higher by 22% to Rs 462.94 crore. As OPM stand contracted by 90 bps to 11.6% the growth at operating profit was restricted to 13% to Rs 53.51 crore. Other income was higher by 38% to 42.90 crore. The interest cost was Rs 47 lakh (against nil in 9mFY12) and depreciation was higher by 13% to Rs 3.89 crore. Thus the PBT was up by 22% to Rs 92.05 crore. EO income was nil for the period as well as corresponding previous period. The taxation was up by 20% to Rs 30.04 crore but the tax rate was lower at 32.6% compared to 33.4% in the corresponding previous period. Thus gained, the PAT before EO (net of tax) was up by 24% to Rs 62.01 crore.
The stock was hovering around Rs 457.35.