Palred Tech's Q2 revenue up by 53% at Rs 72 crore

Hyderabad: Palred Technologies Limited, a technology Solutions player across consumer electronics, eCommerce, and IT Solutions industries has announced its financial results for the first half for FY22. Its consolidated revenue was Rs 74.72 crore, a growth of 36 per cent YoY, with consolidated revenue at Rs 47.55 crore for the quarter, a growth of 19 per cent YoY, revenue generated by pTron brand stood at Rs 72.58 crore in first half of FY22, compared to Rs 47.36 crore in first half of FY20-21, registering a 53 per cent rise.

The flagship brand pTron, a subsidiary of Palred Technologies, boosted the company's revenue by registering record sales, from 12.93 lakh units sold in H1 FY21 to 21.63 lakh units in H1 FY22, witnessing over 67 per cent growth. Recent investment from ace investor Mathew Cyriac, former Blackstone partner & co-head of India PE, enables to expand its market presence.

Harish Naidu, CFO, Palred Technologies Limited said, "As part of our growth strategy, we are focusing on the new age technologies and continue to develop new products under pTron, which drives the overall revenue of the company. Recent investment into the company has boosted shareholders' confidence and we will take considerable steps to maintain the growth momentum in the years to come"