Ingersoll-Rand (India) Limited announced its third-quarter financial results for 2012 – 2013. The company has reported revenues of INR 165 crores as against INR 181 crores for the corresponding quarter in the previous financial year.
Despite a challenging economic backdrop, the company has reported only a 4% decrease in revenues which is excluding a one-time price adjustment of INR 10 crores on exports, during the same period in the previous financial year. The profit from operations excluding this one-time price adjustment improved from INR 12.6 crores to INR 15.1 crores, an increase of 20%.
Venkatesh Valluri, Chairman of Ingersoll-Rand (India) Limited said, “We are pleased with the progress made during the past year, even though there has been slowdown in the industries where we operate. We have achieved margin improvement through strong productivity measures, operational excellence, localization, value analysis and value engineering initiatives. We have created new markets through our innovations for emerging economies and enhanced focus on services. We also continue to invest in developing talent and leadership to build and sustain a highly engaged workforce”
