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Chennai, May 23
Pricol Ltd, a manufacturer of auto parts and precision-engineered products, has reported a standalone net profit of Rs 17 crore for the quarter ended March 31, 2022, as against a net profit of Rs 3 crore in the year-ago quarter, helped by lower current taxes.
Profit before tax for the March 2022 quarter was flat at Rs 27 crore.
Its operational EBITDA stood at Rs 51 crore as against Rs 57 crore in the year-ago quarter. Revenue from operations reported a 9 per cent fall at Rs 383 crore (Rs 421 crore in Q4 of FY21)
For the full-year ended March 31, 2022, the company’s PAT stood at Rs 46 crore, as against a net profit of Rs 15 crore in FY21. Profit before tax was Rs 69 crore (Rs 47 crore).
Pricol’s operational EBITDA for FY22 was lower at Rs 174 crore, as against Rs 178 crore in FY21. Revenue from operations increased to Rs 1,431 crore, as compared to Rs 1,336 crore.
“Despite the acute chip shortage and steep increase in prices of raw materials, which had a major impact on our sales and profitability, we managed to clock a decent performance better than our expectations. Whilst economic activities are gaining momentum and Covid regulations are opening up, the outlook for the industry remains bleak with continued chip shortage and supply chain disruptions,” Vikram Mohan, Managing Director, Pricol Ltd, said in a statement.
He said Pricol remains focussed on meeting customer schedules, while keeping a check on costs.
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