PittiEngg Q1 net profit rises 59% at Rs 11.71 cr
Its revenue from operations saw a growth of 76.90 per cent at Rs 311.06 crore in Q1 FY23 as compared to Rs 175.84 crore in same quarter last year
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Hyderabad Pitti Engineering Limited (PittiEngg) registered a net profit of Rs 11.71 crore in June Quarter, showing a growth of 59 per cent as against Rs 7.36 crore in Q1 FY22.
Its revenue from operations saw a growth of 76.90 per cent at Rs 311.06 crore in Q1 FY23 as compared to Rs 175.84 crore in same quarter last year.
The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) too rose at 26.83 per cent and stood at Rs 35.45 crore, as compared to Rs 27.95 crore in previous corresponding year. PittiEngg's EBITDA per ton stands at Rs 40,539 during the quarter.
Akshay S Pitti, Vice Chairman, MD and Interim CFO of PittiEngg, said: "We posted Rs 311.06 crores total revenue which is the highest ever quarterly number in the company's history. PAT stood at Rs 11.71 crore. We added 4,200 MT sheet metal capacity taking total sheet metal capacity to 50,200 MT. Capacity utilization was healthy at 73.62 per cent during the quarter. Rs 948 crores was the forecast and order book as on June 30 2022.The expansion remains on track for completion by March 2023."
