Sindhu Trade Links clocks more than 200% increase in its Net Profit
STTL Marching Towards Debt Free Regime
New Delhi, February 12: Sindhu Trade Links Limited has recorded a 200% year-on-year increase in net profit on higher realisation to Rs. 2,822 lakhs in the nine months ended on December 31, 2021, and the earning per share is Rs. Rs. 5.54 as compared to Rs. 5.73.
The net profit after the tax deduction is at Rs 2,822 lakh compared to Rs 893.76 during the same period last year. The net revenue increased by 17.17% to Rs 69,840 lakh compared to Rs. 59,607.61 lakh.
Sindhu Trade Links Limited has recorded a 303.67% year-on-year increase in EBITDA on higher realisation to Rs. 7,661.64 lakhs in the nine months ended on December 31, 2021. The Equity Shares of STTL are listed on BSE (Scrip Code: 532029) with ISIN: INE325D01025.
According to members’ approval, the company’s equity share’s nominal value has been sub-divided from Rs. 10 each to Rs. 1 each, with effect from February 4, 2022.
“The company’s management in order to enhance the visibility and liquidity in the company’s scrip, decided to seek a National Stock Exchange of India Limited (NSE) listing in the greater interest of the investors after taking into consideration that the company satisfies the eligibility criteria of NSE Direct Listing (Mainboard)” said the company spokesperson.
In terms of the company management’s decision to become debt-free, the company has reduced its bank debt by Rs. 1041.5 million, almost 1/3rd of its peak bank debts in the last 15-18 months.
The company has reduced its bank-debt guarantee during the previous financial year itself, wherein businesses across the world were considerably disturbed. Despite the outburst of the Covid-19 pandemic, the company has reduced bank debt every quarter with an aim to become debt-free by 2023.
During the current financial year, the company has repaid Rs. 784.7 million bank debt in the first nine months period.