MTAR Technologies, a precision engineering solutions company that caters to nuclear, space, defence and clean energy sectors, has reported a net profit of ₹16.2 crore in the first quarter ended June 30, 2022, as against ₹8.7 crore in the comparable quarter last year, showing a growth of 86 per cent.
The company registered a revenue of ₹91 crore in the quarter, as against ₹54 crore in the comparable quarter last year, showing a growth 68.4 per cent.
“We have received substantial orders in the clean energy segment in the first quarter. We are anticipating an accelerated order inflow over the next three quarters. We are working towards building a strong order book and enhancing our customer base. We will also augment our capabilities to address the growing market in the clean energy, civil nuclear power, space and defence sectors,” Parvat Srinivas Reddy, Managing Director and promoter of MTAR Technologies, said. The company said it has an order book worth ₹765.6 crore as on June 30, 2022.