In 2017-18, the Kolkata based construction equipment maker TIL Ltd reported a nearly 25 per cent rise in topline to ₹400 crore. But its net profit dropped to ₹17 crore. Apart from the cost push, what particularly impacted the bottomline was ₹12 crore jump in wage bill.”
In an exception to the barren industrial outlook of West Bengal, TIL is on a hiring mode. “We recruited 128 persons in managerial cadres last year, including six or seven vice presidents. We are looking for more,” the company Chairman and Managing Director Sumit Mazumder told BusinessLine. Need is imminent. To make the best of the good times, TIL has revived the ₹180-crore plan (including ₹50 crore land cost) to set up a second factory at Kharagpur to manufacture a new range of high tonnage mobile cranes that are witnessing high demand worldwide.