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Pennar Industries Limited posted a profit of ₹33.32 crore for the fourth quarter ended March 31, against a profit of ₹1.03 crore in the corresponding quarter of last year on a consolidated basis.
The company’s revenue was up 23.35 per cent at ₹556.79 crore (₹451.39 crore).
However, the company profit and revenue for FY21 were lower due to Covid-driven disruption.
Pennar closed FY21 with a steep drop in profit at ₹2.27 crore and revenue of ₹1,525.35 crore against a profit of ₹53.33 crore and revenue of ₹2,106.55 crore in FY20.
The company sold a freehold land situated at Bandalguda in Hyderabad and the resultant profit of ₹19.96 crore has been disclosed as an exceptional item for the quarter and year ended March 31.
Ascent Buildings LLC, a wholly owned subsidiary of the company Pennar Global INC, USA will invest an additional $4.3 million for setting up a PEB plant in the US.
As of March 2021, order book position for PEBS was at ₹369 crore, Enviro ₹59 crore and railways division ₹165 crore.
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