ACE reports three-fold jump in net profit in Q3 FY18

MUMBAI: Material handling and construction equipment manufacturing firm Action Construction Equipment (ACE) on Thursday reported a nearly three-fold jump in net profit for the quarter ended December 31, 2017 at Rs 16.41 crore on back of increase in sales.

Its total revenues for the October-December period rose 41% to Rs 279.07 crore from Rs 197.99 crore in Q3 FY17.

“The business growth in the quarter is healthy as demonstrated by a steady revenue and profit growth. The company is confident of exceeding the 18-20 per cent growth target set for FY18 and is now looking at least 30-35 per cent growth in FY18 itself,” ACE Executive Director Sorab Agarwal said in a statement issued here.