Servotech Power Systems net up 3-fold

New Delhi: Servotech Power Systems Ltd (SPSL) has posted over three-fold jump in its net profit at Rs 3.12 crore during the quarter ended September 2023, aided by higher revenues. It had clocked a net profit of Rs 78 lakh during the July-September period of preceding 2022-23 fiscal, the company said in a regulatory filing on Monday. The company’s revenue also more than doubled to Rs 86.59 crore in the second quarter, from Rs 40.24 crore in the same quarter a year ago. Servotech Power Systems MD Raman Bhatia said: “Our success can be attributed to our steadfast dedication to delivering cutting-edge, technology-driven solutions in the fields of electric vehicles and solar energy.”